A self assessment tax return is required for any taxpayer who receives untaxed income. Typically this can be from self employment, dividends, sales of assets or rental income. The return needs to be filed for each tax year (6th April to following 5th of April) where income has been received and the deadline for filing is January 31st. We prepare tax returns for all clients who need them ensuring all income is properly disclosed and that any expenses where tax can be offset are included. This keeps our clients tax bills as low as possible and also saves them from the difficulties of filing it themselves through the HMRC portal. We provide detailed tax calculations to our clients, explain what has to be paid and when or ensuring that tax refunds are paid out to them promptly. We are a registered HMRC agent so we can deal with any HMRC queries on our clients behalf.
For limited companies the return is different as they pay corporation tax rather than income tax. The return is prepared based on the company accounts for a year and we will deal with this for our clients, again advising on what can be claimed and offset and acting as agent so we can deal with any HMRC queries on our clients behalf.