Accurex Accounting

Self Assessment Tax Return

IMPROVE TAX SEASON PROFITABILITY BY 33%

At Accurex Accounting in London, we understand that tax preparation can be a tedious task for smaller clients therefore we take this burden away from you. At Accurex we ensure to support you as per your seasonal requirements such as peak times in December and January. As an Accurex client, you will have access to the status of each Self Assessment Tax Return, reporting, and a guaranteed turnaround of 7 days.

Our staff is experienced in UK taxation with excellent knowledge and understanding of tax documentation and software such as IRIS, TaxCalc, Capium, Sage, and CCH.

Self Assessment Tax Return

Who Needs to File a Self Assessment Tax Return?

  • You must file a Self Assessment tax returns if:
    • You are self-employed and your taxable profit is £1,000 or more.
    • You received income from renting out a property.
    • You received income from a partnership.
    • You received foreign income exceeding £2,000.
    • You received untaxed dividends or interest exceeding £10,000.
    • You have Capital Gains exceeding the annual exempt amount.
  • Deadlines:

  • The deadline for filing your Self Assessment tax return online is 31 January of the following tax year
  • The deadline for filing a paper return is 31 October of the following tax year.
  • Late filing penalties apply if you miss these deadlines.

Self Assessment Tax Return

  • Register for Self Assessment: If you haven’t already, register for Self Assessment with HMRC online or by post.
  • Gather your records: Keep accurate records of all your income and expenses throughout the year. This includes invoices, receipts, bank statements, and any other relevant documentation.
  • Choose your filing method: You can choose to file your return online or by post. Online filing is the quickest and easiest option.

Expert Advice

  • Keep accurate and organized records: This will make the filing process much easier and help you avoid mistakes.
  • Seek professional advice if needed: If you are unsure about anything, seek help from a qualified accountant or tax advisor.
  • Start early: Don’t wait until the last minute to start preparing your tax return.
  • File electronically: Online filing is quicker, easier, and more secure than filing by post.
  • Pay your taxes on time: Avoid late filing penalties and interest charges.
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