Self Assessment Tax Returns - Fast
Self Assessment tax returns - Who needs one?
For Sole Traders, your standard annual Self Assessment is included as part of your Accounting fee. For our Limited Company Directors with Self Assessment obligations, we can handle your Self Assessment and make this return simple and quick to complete. Whether you are based locally in Greenford, Perivale, Ealing, or further afield, we can help you with your self-assessment tax returns.
Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return.
Who must send a tax return
You must send a tax return if, in the last tax year (6 April to 5 April), you were:
- self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
- a partner in a business partnership
You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:
- money from renting out a property
- tips and commission
- income from savings, investments and dividends
- foreign income
Other reasons for sending a tax return
You can choose to fill in a tax return to:
- claim some Income Tax reliefs
- prove you’re self-employed, for example to claim Tax-Free Childcare or Maternity Allowance
If you get Child Benefit
If your income (or your partner’s, if you have one) was over £50,000, you may need to send a return and pay the High Income Child Benefit Charge.
Our chartered accountants are here to help take the stress away from your tax returns! If you live in Greenford, Ealing, Wembley or any other areas of West London, contact us to find out more about our self-assessment tax services on 0207 088 8141
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