Tax Returns

Self Assessment Explained

Every self employed, individual letting property or a company director is required to complete self assessment tax return every year. The process involves calculating total income received and total allowable expenditures made. Total figures are then used to calculate income tax liability or tax refund due. 

Self Assessment registration

Every one who is required to complete self assessment need to register with HMRC by filling and submitting SA1 form. Filling the form is not required for self employed registered with HMRC.

Requirements

Every one who is required to complete self assessment is must do so by 31st January for the period 6th April - 5th April of previous years. You must use precise figures of your income and expenses to complete self assessment, you also must store all documents relevant to your self assessment for 6 years. Failure to complete self assessment by given deadline will mean £100 penalty.

Let us help

Brilliant Accountants can help you easily and efficiently fill and submit self assessment and claim tax refund if any will be due. We can chase any of your missing statements or vauchers required to complete self assessment and appeal against any penalties on your behalf. We can assist you with HMRC investigations.

Service Fees

Fees for self assessment start from £50-150 per year, price vary depending on business turnover and presence of required information to complete self assessment.

Course on DVD

You can learn how to complete self assessment online by going through our Self Assessment Tax Course on DVD.