HMRC usually issues a Self Assessment tax return form to taxpayers in the following categories:
- Individuals and sole traders
- Directors of a limited company
- Partnerships
- People working within the construction industry (CIS)
- Landlords.
The deadline for filing Self Assessment Returns with HRMC for the tax year ending 5th April is 31st October for paper submissions and 31st January for online filing.
The self assessment system attracts numerous fines and penalties for the late submission and incorrect completion of self assessment returns, penalties include:
- Immediate £100 late filing penalty
- Interest on all tax paid late
- Automatic penalties for late submission can rise to at least £1600 plus 100% of tax due.
We can handle all of your Self Assessment requirements ensuring that your returns are filed in a timely and accurate manner so that you avoid unnecessary fines and penalties allowing you to concentrate on running your business. Our Self Assessment Service includes:
- Completion of your Self Assessment Tax Return
- Calculation of your final tax liability
- Filing returns online
- Advising amount of tax to be paid and payment dates
- Negotiating with the HMRC Collector of Taxes if necessary
- Dealing with HMRC Self Assessment enquiries
- Optional fee protection service in the event of a Self Assessment enquiry.
In addition to the above services we will review your self assessment tax return to establish if any tax savings can be made and we will ensure that any anomalies are addressed before your return is submitted minimising the risk of a self assessment enquiry.