Self-assessment tax Return Accountants Self-assessment tax Return Accountants

Self Assessment Tax Return Accountants in London

Our qualified accountants will not only help with your self-assessment tax, but we will also concentrate on showing how you can minimise your liability to tax. Ours is a personal and an expert service that will help you keep control of your financial situations and taxes so that you are in a position to make the best and most well-informed investment and business decisions.

Your Personal Self-assessment tax accountant in the UK

You will have a dedicated accountant, working in the UK and they will become familiar with your business as they give you the advice you need and offer you outstanding customer service. When you need them, your dedicated accountant will get back to your within the day or at the latest within twenty four hours when you have a query.

A comprehensive Tax Return Service

We will act for you in communication with HMRC, speaking for you to HMRC and keep an eye on any deadlines so that you never run the risk of a late filing charge.

Our Tax Return Service

We will prepare and then submit your PTR online and advise you the amount of tax that you should pay. We have devised a eight-step process that enables us to ensure that you pay only what you need to and that everything is completed correctly.

  1. Give you a checklist to help save time as you gather all the details we are going to need.
  2. We will use the details you provide to complete a PTR for you.
  3. We will calculate your payments and personal tax, so you will always be aware of how much is due and never face payment of any interest or penalties.
  4. We will give you advice on any elections and claims, not including tax credits and that arise from the PTR so that we can minimise your tax bills. If you instruct us to, we’ll go one to make elections and file any claims in the correct format with your tax return to HMRC
  5. Your PTR will be filed online so that you will be aware of exactly when is received by HMRC. If it turns out that you are due a repayment of tax repayment, by filing online, your refund will come through a lot faster.
  6. We will check calculations made by HMRC and we will also arrange for a schedule of claim for repayment if there has been an overpayment.
  7. If you are due a refund, we will ask you to give us your banking details so when any funds received can be transferred electronically. This way you will receive the money direct to your account, owed from HMRC without going to the bank or having to wait for fund clearance.
  8. All communications that relate to your PTR will be dealt with by us when they are sent to us from HMRC or sent through to your account manager after they have been received by you.

The Self-Assessment Tax Return

The personal tax return or self-assessment tax return is the way in which individuals can declare details of their annual income and profits and gains made on investments from which their tax liability is calculated.

There are some taxes like PAYE that will be always be collected at source by an employer and that takes care of the tax liability from their earnings. However, there may be other income that comes, perhaps from renting out property that has not been taxed-at-source. A sole traders business or an asset sale must also be declared and tax levied. If you have over paid due to an administrative error but your employer, for instance, we can complete the appropriate return to see you reimbursed.

Who Needs To fill in a self-assessment tax form?

A Tax return will need to be submitted if during a financial year that ends on the 5th April:

There may be some other situations in which it would be necessary to submit a PTR - making it simple, it will be necessary if you either need to declare any additional taxes either reclaimable or payable.

Chargeability Notification

If somebody becomes liable to capital gain tax or to income tax initially, they must within 6 months of the relevant tax year, notify HMRC. One example might be someone who receives a dividend income in a tax year He or she will have until October of that year to notify HMRC that they are liable. To file a tax return, that person will have to be self-assessment registered and will also have to have a Unique Tax Identifier number (UTR). It can take anywhere up to six weeks for HMRC to issue a UTR number.

Tax Payment Dates

Payments on two dates need to be made. One should be made on account on the 31st January submission and then another after the tax year on the 31st July. These payments will be paid at 50% of the amount in tax that is due in the previous year and apply only to income tax and does not apply to capital gains tax. A payment in balance will be due on the 31st of January following the applicable tax year.

You will not need to make any payment if:

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