We are a specialist Chartered Accountancy firm that helps individuals file their yearly self-assessment making sure you save the most amount of money on tax every year.
We have helped thousands of individuals, small businesses, and big organisations save thousands of pounds on TAX & VAT. We also price match with other accountants so make sure you get in touch for a free quote today.
If you run your own business or are self-employed in another manner, you need to claim this, which means you will have to fill out self-assessment tax returns. Under the employment law, you need to pay taxes when you are self-employed if you earn more than the personal allowance amount.
As one of the leading accountancy services in the UK, we can help with this. One of our most used services is the self-assessment return support as more people become self-employed. Being a sole trader or running your own business can offer a lot of flexibility, which is why many people are changing the ways they earn an income for these benefits.
But there is a lot of work that needs to go in behind the scenes, and it can be overwhelming to keep track of everything – which is where an accountant service comes in. If you need support when it comes to managing your tax bill and filling out your tax return, please use the contact form to get in touch with us today. As one of the leading accountancy companies in the UK, we can support you at every step of the way.
Self Assessment Tax Returns
When you are a sole trader and self-employed, you need to fill out your own tax returns. Usually, this can be managed by your employer, but when you work for yourself, you need to fill out the paperwork and keep track of your income and expenses yourself. This can be a very stressful thing for people in self-employment to manage, along with everything else they have to do.
If the idea of filling out tax returns fills you with dread, or you are already concerned about how you will find the time to do it, we can help. Our accountants have helped many clients across the country with their self-assessment tax returns, and we operate with fixed fees, making it a cost-effective business move to make.
We have worked with all kinds of people in self-employment, from owners of small businesses to a limited company. We can even help those in a business partnership with their self-assessment tax return. The self-assessment tax return needs to be completed before the end of the tax year, which is one of the busiest times for self-employed people.
You will need to work out how much you have earned throughout the year, as well as how much has been spent on trading expenses, to determine how much is owed in tax. You may also have to declare any savings that you have, as this can impact how much tax you will be paying this year.
It is your legal obligation to complete this, and accountants can provide peace of mind with their services, as they will handle everything. Businesses can work with accountants, like those on our team, to keep track of their money throughout the year as well as for support when filling out the self-assessment return. If you are looking to hire an accountant to help with your self-assessment form this year, please get in touch.
What Others Say About Our Services
I have the pleasure of working with John at Self Assessment Tax. His knowledge and support over the past few years has been outstanding. He is always available to explain and support but also is one of the most efficient accountants we have ever worked with. We value and appreciate his genuine interest in helping to make our lives easier so we can concentrate on our business. I highly recommend.
I have been using Self Assessment Tax now for 4 years and their services are excellent.
Johnathan looks after my business accounts and with every query I may have it is followed by a quick response with always the information I need, he is super efficient and lovely with it too!
I have been self employed for 23 years and have had 3 past accountants, and Tax Assists are definitely the best I have used!
The amount that your business owes in the annual tax return can vary based on the profits and expenses of the previous tax year. Tax needs to be paid on your income if profits are over the set amount as outlined by the government, and in some cases, your savings may also be taxed.
There are personal tax return requirements as well as business tax returns which you will need to fill out to complete your tax return for this year. It is clear to see why tax season causes a lot of stress for those in self-employment, and it can sometimes feel as though you have worked so hard for nothing as your wealth is paid out.
This is why hiring professional accountants can be the best move to make for your business. With management over your accounts, professional accountants can keep track of all of your income and will work to determine how much you need to pay.
Hiring accountants to help with your self-assessment tax can make it easier to fill out your tax return and pay what you owe when the time comes. Professional accountants make the entire process simpler and will break things down into easy steps, so you can keep track of your money and see the progress your business has made.
We can offer professional advice when it comes to tax, and we can also advise you on benefits. You may be eligible for additional support, such as child benefit. Our accountants work closely with their clients and get to know them well so they can provide the right advice for their needs.
What kind of tax reliefs and tax deductions are there?
Listed below are five popular tax reliefs and tax deductions:
- Charity Donations
- Pension contributions
- Professional fees and subscriptions
- Uniforms and tools
- Working from home
What is Making Tax Digital (MTD) for Income Tax?
Making Tax Digital for Income Tax is to be introduced in April 2024, but it is time for businesses to get prepared now. This is a governmental change to the way that you will fill out and pay your tax return. It has made this process digital, and many of the tax services are now going to be done online.
We can guide our clients through this new service and will work with them to prepare them for this next step. You do not need to worry about any future changes to your tax return when working with professional accountants, as we can help you get prepared as well as work to submit your digital file on your behalf.
Working with our accountants can help save a lot of time and stress, as we will manage all of your accounts and ensure you are ready for these upcoming digital processes. To get your tax return complete in three easy steps, you can get in touch with our accountants today. Contact us via the phone to book a free consultation.
Do You Need to Submit a Self-Assessment Tax Return?
If you are considered to be self-employed, then you will need to fill out a self-assessment tax return. Based on the sales and income, the amount of tax that you owe can vary greatly.
Our self-assessment service makes it easy to submit this return, as we can keep track of every file and manage your accounts, so you know exactly what your money is doing. Our chartered accountants could also find ways to help you save money when it comes to your tax and the management of your business, as we offer additional services along with our self-assessment support.
We can provide a free consultation to new clients, so if you are unsure about whether you need to fill out a self-assessment return, we can help. We will ask a few questions to determine your stance.
What are tax affairs?
Tax affairs are affairs relating to any tax imposed by or under, or assessed or collect under, a law administered by the Commissioner of Taxation (including income and payroll tax, GST and PAYG withholding)
Who Can use our HMRC Tax return service?
You can use HMRC Tax return service if you receive income from any or all of the following sources:
- Bank Interest
- Sole trade / Self employment / CIS subcontractor
- Rental properties
- Armed forces
What are pension contributions?
Pension contributions are usually expressed as a fixed sum or a percentage of earning, if they’re expressed as a percentage you will need to confirm salaries with your pension provider / trustees regularly as necessary from time to time.
Is a self Assessment the same as a tax return?
Self Assessment is not – it is a way of paying tax. The idea of Self Assessment is that you are responsible for completing a tax return each year if you need to, and for paying any tax due for that tax year.
Why business owners may use an accountant and how much they cost
Hiring an accountant means you do not have to worry about your tax returns. The price of our service can vary based on your needs, but we can offer a free consultation to new clients in the UK. Get in touch today using the contact box or via phone to learn more.
When does the tax year start?
The tax year normally start at the beginning of April, last year the tax year started on 6th April 2021 and ended on 5th April 2022
How much tax will I pay on my rental income?
Your rental profits are taxed at the same rates as income you receive from your business or employment – 0%, 20%, 40% or 45%, depending on which tax brand the income falls into. Your rental income gets added to any other income you earn, which could tip you into a higher tax bracket. For example:
- You earn £40,000 a year from your job
- You made £13,000 in profit from a rental property
- This tips you over the £50,270 threshold for higher-rate tax in 2022-23
- You’ll pay 40% on the £2,730 above this threshold
How quickly will I get my Tax Return?
It usually takes a few weeks to put together a really comprehensive tax refund claim. As soon as your happy to go forward, your claim will be sent to HMRC for approval. It can take 8-10 weeks for the taxman to check your details and confirm your refund total, so the sooner you get us the information we need the sooner you’ll have your money.
Is it better to do a tax return with a tax return accountant?
Although taxpayers can save money by filling their own tax returns, some taxpayers really should think about engaging an accounting firm to help with their returns. This would normally apply to taxpayers who have more complex affairs.
When deciding on an Accounting Firm who is the most trusted?
Listed below is the top 5 most prestigious accounting firms:
- PwC (PricewaterhouseCoopers) LLP
- Ernst & Young LLP (EY)
- KPMG LLP
- Grant Thornton LLP
What is a tax analyst?
Usually a tax analyst engages in work that revolves around the preparation, review and filing of tax forms and returns. They may work with individual citizens filing single or joint returns, as well as business owners that file taxes on the part of their organisation. A tax analyst can also be used to get a better understanding of your tax situation and how it can be improved, also the implications of your salary and any investments you may have.
If you are looking for a professional and reliable Self Assessment support team to help or advise you on your Tax woes, look no further. We have a fully managed Accountant support team that’s ready to help you out.
Our professional self assessment accountant support team will ensure that you have backup hardware and software on hand in case of an emergency so that productivity and business continuity are not disrupted.
Every member of our team understands that we function as an extension of your company, which is why partnership is so important to us. We’ll be proactive and upfront about what we deliver right from the start.
We feel that planning is critical to providing excellent service, so if you’d like to work with us and see if we’re the best support partner for you, then you can reach out to an account manager and discuss your requirements.
Our team will also provide appropriate recommendations to help your business succeed based on your circumstances and present operations. We’ll assist you in selecting the appropriate business technology to complement your existing system, and we’ll work to save you money by delivering cost-effective hardware.