Self-assessment is a system used by HM Revenue and Customs (HMRC) to collect income tax. If you're self-employed, a landlord, or have other income outside of your regular employment, you may need to complete a self-assessment tax return.

Completing a self-assessment can be complex and time-consuming. An accountant can help you navigate the intricacies, ensure accuracy, and potentially save you money by identifying tax-saving opportunities.

Our self-assessment package includes income and expenditure analysis, tax calculation, filing of the tax return, and liaising with HMRC on your behalf, among other services.

The sole trader self-assessment deadlines are as follows:

• If you have never submitted your return in the past, you need to register it by 5 October.
• For paper tax return filing, submit it by midnight on 31 October 2023.
• For online filling, submit it by 31 January 2024.
• Pay all the tax dues by midnight on 31 January 2024.

If you miss these self-assessment deadlines, you might have to face a penalty fee and interest on late payment.

Yes, we can assist you with late filings and help minimize penalties and interest charges from HMRC.

You can securely upload your financial documents through our online portal, or you can provide them in person at one of our 27 offices nationwide.

Absolutely. We adhere to strict data protection protocols to ensure the confidentiality and security of your financial information.

Our experts are experienced in handling complex financial situations, including multiple income streams, and can ensure that your self-assessment is accurately completed.

Getting started is easy. Simply contact us to schedule a free consultation, and we'll guide you through the process.

To register for a self-assessment tax return in the UK, you'll need to follow these steps:

• Determine Eligibility: Make sure you meet the criteria for needing to file a self-assessment tax return. This is typically required for the self-employed, landlords, investors, and others with multiple income streams.
• Register with HMRC: You can register online through the HMRC website. If you're self-employed, you'll also be registering for National Insurance contributions at the same time.
• Unique Taxpayer Reference (UTR): After registering, you'll receive a UTR number by mail, which is essential for filing your tax return.
• Activate Online Account: You'll receive an activation code by mail, which you'll use to activate your online self-assessment account.
• Complete the Return: Once your account is activated, you can complete your tax return online or via paper forms.

Yes, if you are a Director of a limited company, you are generally required to complete a self-assessment tax return. This is especially true if you receive income that is not taxed at source or if you receive dividends from the company.

Yes, you can file a self-assessment tax return online through the HMRC website. This is often the most convenient method and allows you to instantly submit your tax return, calculate your tax liability, and receive immediate confirmation.

Yes, if you are operating as a Sole Trader, you are required to complete a self-assessment tax return. This is how you will report your business income and expenses to HMRC and calculate your tax liability.

The deadline for filing a paper self-assessment tax return is October 31st, while the deadline for online submissions is January 31st of the following year. It's crucial to meet these deadlines to avoid penalties.

To claim tax relief on self-assessment, you'll need to include details of your eligible expenses when completing your tax return. This can include costs like business expenses for the self-employed, or charitable donations if you're claiming Gift Aid. Make sure to keep all relevant receipts and records to substantiate your claims.

The time it takes to complete a self-assessment tax return can vary widely depending on the complexity of your financial situation. For a straightforward case, it might take a few hours. However, if you have multiple income streams, foreign income, or complex investments, it could take significantly longer. It's advisable to start well in advance of the deadline to ensure accuracy and completeness.