What is a Self Assessment Tax Return?

Self Assessment is when you assess yourself for tax, which involves completing an online or paper tax return in order to tell HMRC about your income and capital gains (profits on the sale of certain assets), or to claim tax allowances or reliefs against your tax bill.

Do I need to complete a tax return?

Not everyone needs to complete a tax return. If your tax affairs are straightforward, you may already pay tax on your earnings or pensions through a PAYE (Pay As You Earn) tax code, and your employer or pension provider may already deduct all of the tax due.

If you have more complicated tax affairs, even if you already pay tax through PAYE, you may need to complete a tax return. There are also certain circumstances in which you will always need to complete a tax return. These include the self-employed, company directors, trustees, or if you have foreign income.

How can you help me complete my Tax Return?

The basic Self Assessment Tax Return, excluding any supplementary pages, is made up of more than 70 questions.

Unless you’re an expert at knowing your savings income from your dividend income, and your 40% tax bracket from your 20% tax bracket, you’re likely to need some help.

We have ensured that countless clients have submitted an accurate and compliant Tax Return to HMRC, every year.

Let us take away the headache of completing your Tax Return.

Which Tax Office deals with my Income Tax affairs?

If you are self employed you will be dealt with by a Tax Office locally.

Employed persons and persons receiving pensions from former employers are dealt with by the Tax Office dealing with the employer’s Head Office. Your local Tax Office will be able to tell you which Tax Office deals with your affairs, or, if you are employed, your employer will also know.

What details are required on a company’s letterhead?

The full company name, registered number, registered office address and place of registration (e.g. registered in England and Wales) must be shown on all business letters and order forms.

I just need my payroll done is that OK?

Yes that is fine, we’re happy to do this. Many of our clients have started on this basis and have gone on to take advantage of our full range of services.

Do you do just bookkeeping?

Yes we are very pleased to provide this and can add services if it is needed. We do prefer you to do the basic bookkeeping as this will save you time and money.

What are your fees?

We provide a fixed fee quote in advance based on time to be taken and meetings. If exceptionally there is a substantial extra amount of work to be done an additional fee is agreed in advance.

All my receipts, bills and bank statements etc are in a file, but I don’t know what I am supposed to do with them. Can you help?

Yes, you would need to have an initial consultation with us, which is free, so that we can ascertain your requirements. We can then advise on the the best course of action and what your legal obligations are.

I already have an accountant is it difficult to change?

It’s so easy to change! You just sign one letter, which we will provide you with, then we handle everything from there.

Are your fees just going to be cheap for the first year then shoot up every year after?

No. When you get your free no obligation consultation we will give you a fixed fee quote for the level of work required and we stick to it!

What is a UK Tax Refund?

A tax refund is a repayment of PAYE (Pay As You Earn) tax that you have overpaid during the tax year, as determined by the Inland Revenue. Anyone who has lived and worked in the UK may be eligible for a UK tax claim. Certain criteria do apply, however 97% of people are able to make a claim – even after they’ve left the UK!

When can I make a claim?

You can make a claim when you paid too much tax and usually after tax year has finished.

You may, however claim during current tax year but only if you are leaving the United Kingdom and do not intend to take any employment until 5th April. You can check how much you can claim by online calculator.

How many years can I claim for?

You can claim tax refund for the last 6 years, providing that there is a refund due. Remember that in the UK financial year (tax year) runs from 6th April to 5th April the following year (2003/04 starts on 6th April 2003 and ends on 5th April 2004)