Self-assessment tax return

The term ‘self assessment’ is proving to be one of the great misnomers of all time.

Many taxpayers struggle to understand the complex tax returns and complete them correctly. In the first year of the regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later!

The constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.

We can save you a lot of time, worry, and money by handling your self assessment for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability.

We can act as your agent, dealing directly with the Inland Revenue on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.

HM Revenue and Customs issue a self assessment tax returns (You usually just get a letter telling you to go online and do one) for a particular year shortly after the end of that tax year (5th April).

The taxpayer has until 31 January of the following year to complete and file the tax return online. Tax returns submitted by paper are due by 31 October.

Under the self assessment penalties regime, if you fail to submit your tax return on time, a fixed rate penalty of £100 results, even if you have no tax to pay or have paid the tax you owe.

  • Self Employed – tax returns
  • Partnership – tax returns
  • Buy to Let / Landlord’s- tax returns
  • CIS – tax returns
  • PAYE – tax returns
  • Employed mileage claims – tax returns