Self Assessment Tax Returns


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Self-Assessment Tax Return

The deadline for online tax return and for payment of tax is normally due by January 31st.

Income tax is normally deducted automatically from a person’s wages. Self-assessment is the system used by HMRC to collect tax from businesses and individuals with other means of income, via an online or paper tax return.

S&B Consultancy Services can accurately prepare and file your HMRC self-assessment tax return. Our accounting experience and expertise will help you pay the right amount of tax. No matter how complex or simple your tax affairs, we’ll advise and help you so that you meet your HMRC self-assessment tax deadlines to avoid any unnecessary mistakes and penalties.

You need to submit a Self-Assessment, if you are:

  • Director of a limited company.
  • Self-employed.
  • Employed and earning more than £100,000.
  • Earning more than £50,000 and receiving child benefit.
  • Receiving property income.
  • Earning an income that hasn’t been taxed.

The earlier you ask us to handle your self-assessment, the less you’ll pay.

Every year thousands of taxpayers leave filing their tax return to the last minute or after the deadline. HMRC’s penalty fee for late filing starts at £100 as soon as your self-assessment is overdue. This soon mounts up so the longer it takes to resolve a late submission, the more you will owe.

If you have overdue tax returns and are in unfortunate difficulties with HMRC over your personal tax affairs we’ll give you the help and advice you need to handle your self-assessment.

Contact us today

Latest Tax News

HM Revenue and Customs has recently issued new guidance on the Stamp Duty Land Tax (SDLT) on non-resident buyers of residential property in England and Northern Ireland. [...]

The European Union has released its Winter 2021 Economic Forecast, which says that Brexit will dent UK economic growth considerably, and more than for the European Union, despite the new free trade deal between the two parties. [...]

Norway intends to provide value-added tax administrative relief measures to UK businesses in response to Brexit. [...]

On December 15, 2020, the UK and Mexico signed a trade continuity agreement that will apply when the Brexit transition period ends. [...]

The UK Government is inviting input on the tax challenges associated with the rise of the sharing economy. [...]

Canada and the UK have formally signed a post-Brexit trade continuity agreement that will apply from January 1, 2021. [...]

The EU has referred the UK to the Court of Justice over its failure to comply with EU rules on marked fuel. [...]

HM Revenue and Customs has confirmed that UK businesses who wish to pay their deferred VAT liabilities in installments will be able to decide a payment schedule early next year. [...]

Canada and the UK have announced the successful conclusion of negotiations on an interim trade agreement, which will be in place as they work toward a comprehensive post-Brexit free trade deal. [...]

The UK Government has announced that the temporary GBP1m (USD1.31m) cap for the Annual Investment Allowance (AIA) will be extended until January 1, 2022. [...]

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For more information on how we can help you and your business call one of our friendly team today.

Call: 020 8004 1449 / 020 8004 1417