Self Assessment
Tax Returns
Our team of tax experts understand the complexity of Self Assessment Tax Returns and are here to guide you through the process.
The annual deadline to submit a tax return is 31st January and HMRC charge a minimum £100 late filing penalty. We offer a comprehensive service catering for your specific circumstances.
Tax laws are changing constantly and working with us ensures peace of mind that your tax affairs are dealt with accurately and submitted to HMRC on time.
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How AJN Accountants can help?
Registration
Ensuring you are correctly registered with HMRC for self-assessment.
Payment Advice
Advising on payment of any tax bill to HMRC and due dates.
Calculation
Calculating your tax liability, submitting your tax return to HMRC.
Tax Efficiency
Advice on any regulations to make your submission more tax efficient.
When to complete a Self Assessment Tax Return?
Whatever category you fall under, our team of specialists are ready to help you.
Receiving untaxed income such as dividends from a company
Earning over £50,000 per annum and in receipt of child benefit
Self-employed or partnerships you may have
Employed and earning over £100,000 per annum
Receiving property income on an annual basis
Receiving foreign income on an annual basis
When to complete a Self Assessment Tax Return?
Whatever category you fall under, our team of specialists are ready to help you.
Receiving untaxed income such as dividends from a company
Earning over £50,000 per annum and in receipt of child benefit
Self-employed or partnerships you may have
Employed and earning over £100,000 per annum
Receiving property income on an annual basis
Receiving foreign income on an annual basis
Frequently Asked Questions
How can I determine if I need to file a Self Assessment tax return?
You may need to file a personal tax return if you fit into several categories, such as being self-employed, a partner in a business, receiving rental income over a certain threshold, having significant savings or investment income, needing to pay Capital Gains Tax, or if you have income from abroad. Additionally, if you have been contacted by HMRC requiring you to submit a return, compliance is mandatory. Our team can help you understand your obligations and ensure you meet all requirements.
What information do I need to provide for my Self Assessment tax return?
To accurately complete your personal tax return, you’ll need to gather various pieces of information, including details of your income (from employment, self-employment, pensions, dividends, interest, and any other sources), any tax reliefs or allowances you are claiming, contributions to pensions or charity, and information on capital gains or losses. Keeping detailed records throughout the year will simplify this process. Our specialists can guide you on precisely what’s needed for your situation.
How can I ensure I'm taking advantage of all available tax deductions and reliefs?
Maximising tax efficiency involves a comprehensive understanding of the tax reliefs and deductions available to you, such as allowances for savings, investments, pension contributions, and expenses related to self-employment. Our Personal Tax Returns Service includes personalised tax planning, where we’ll review your finances in detail and recommend strategies to optimise your tax position, ensuring you benefit from all applicable deductions and reliefs.
What happens if I miss the Self Assessment tax return deadline?
Missing the tax return deadline can lead to immediate penalties from HMRC, starting with a £100 fine, even if there’s no tax to pay. Additional charges and interest on overdue tax can accumulate over time, significantly increasing the amount owed. To avoid these penalties, it’s crucial to start the tax return process well in advance of the deadline. Our service is designed to ensure your tax return is prepared and filed punctually, helping you avoid unnecessary fines and stress.
Can I switch to your service if I've already started my Self Assessment process elsewhere?
Absolutely, switching to our service is straightforward, even if you’ve begun the process with another provider. We’ll take care of transferring your information and ensure a seamless continuation of your tax return preparation. Our team will review any work already completed for accuracy and completeness, and then proceed with preparing your tax return, ensuring a smooth transition and peace of mind that your tax affairs are in capable hands.