Self Assessment Tax

Who needs to file a self assessment tax return?

The law requires you to file your self assessment tax return under the following circumstances. 

When you are a self employed person and your income from self-employment is more than £1,000 during a tax year. If your self-employment income is less than £1,000 you can get an allowance named “trading allownace.”

If you have a buy to let property and your rental income is more than £1000. If your rental income is less than £1,000 you can get an allowance named “property allowance”.

When you are a director in any company. (Please note, a director is not always required to file the self assessment tax return. Please see below FAQs section for such exemptions).

If you are a trustee of a trust or registered pension scheme or the executor of an estate.

When you don’t live in the Uk but you have an income generating from the UK. This will include non-UK resident landlords.

Please note, this is not an exhaustive list. There are many other circumstances within which you may be required to file your tax return.

Our Self-Assessment Tax return Service

We will prepare and submit your self-assessment tax return after calculating your tax liability. 

We follow a rigorous 10-step process to complete your tax return:

We will supply you with a checklist that will save you time to gather the required information that we will need to prepare your tax return.

We will then use the provided information and explanations to prepare your Self Assessment Tax Return.

To avoid penalties and interest, we will also calculate your tax bills and payments on account to know exactly how much to pay and when to pay.

We will advise you about possible claims and elections arising from your Self Assessment Tax Return except for tax credits.

We will submit your Self Assessment Tax Return return to HMRC.

We will file your Self Assessment Tax Return online using our specialist software.

We will check HMRC’s calculation of your tax account and initiate a repayment claim if you have overpaid your tax.

If you’re entitled to a tax refund, we will contact HMRC to request the refund. We will deal with all the communications relating to your Self Assessment Tax Return from HMRC