Self Assessment

Self Assessment Tax Returns

Director, sole proprietor or partner?

Self Assessments

Most of our clients are required to complete an individual self assessment through one the following circumstances

  • Director of a Limited Company
  • Sole Trader
  • Partner in a Partnership
  • Have rental income.

The tax return deadline is 31 January at which point any outstanding tax for tax year ending the previous 5th April will be due.

There is no reason to delay this long, have peace of mind and don’t let your Christmas period be spoilt with the nagging in your mind that you still haven’t completed your return.

As a client of ours, we will aim to have your personal tax return completed at the same time your annual accounts are finalised. If we act for your limited company of partnership we will have 90% of the required information but will request any additional information we may require.

However, you may just need to complete a return as you earn over £100,000 if so we are happy to help and by opening in a dialogue with regards to your personal circumstances may lead to us being able to give you advice in relation to other matters like Capital Gains or Inheritance tax.

Completing your tax return not only gives you peace of mind but also has the following benefits.

  • Early calculation and notification of taxes payable come 31st January
  • Ensure you are not over paying on your payments on accounts and therefore helping your personal cash flow
  • Taking advantage of possibly having any outstanding tax collected (up to £3000 liabilitly) via your tax code instead of paying in one lump sum
  • And most important of all, being liked by your accountant as you have not contributed to their January madness!

Amalgamation of sources of income

  • Preparation of return for checking and sign off
  • Calculation of any tax and NI liabilities including advance payments on account
  • Completion and submission to HMRC
  • Liasing as and when required with HMRC
Self Assessment