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Self Assessment Tax Returns
Self-Assessment Tax Returns – Accurate, Timely & Stress-Free Filing
You need to provide your Self-Assessment to the HMRC. This can be stressful and time consuming, why not outsource it to us. We can income & analysis report via bookkeeping services which will encompass all applicable tax schemes to ensure you make full use of all your allowances.
HM Revenue & Customs may require you complete a tax return for a variety of reasons on the underlying principle that for UK residents’ tax is chargeable and payable on your worldwide income.
The system of self-assessment was introduced in 1997 shifting the burden of disclosing income to you the tax payer. In one stroke the responsibility is shifted to the individual to declare accurately what they should or should not pay tax on.
Broadly speaking you will need to complete a tax return if you have income that has not been taxed as source. This usually means the following:
This is not an exhaustive list and there may be circumstances where you may want to complete a tax return to reclaim tax back, for example:
Whatever your circumstances, FAR Accountancy will guide you to ensure you are compliant. We will ensure that you are tax efficient and we are always happy to address any concerns you might have in declaring your income on a tax return.
On using our self-assessment returns service, you will expect to receive the following:
The deadline to file your self-assessment returns are the 31st January following the 5th April. The biggest advantage to preparing your accounts sooner rather than later is the fact you will know how much your tax bill is and how much your payments on accounts will be.