Self Assessment Accountant

Self Assessment Tax Return Advice

When your circumstances change, you may be uncertain as to whether HMRC will require you to prepare and submit annual tax returns. Helpfully, HMRC provide an online check that can assist, or you can give us a call and we will happily advise whether your circumstances mean that you need to prepare tax returns.

If you need to submit tax returns, you need to register with HMRC. They will then issue you with a unique taxpayer reference (UTR) which is a ten digit reference unique to you, under which you will submit your tax returns. Registering is easy and can be done online. Register here.

Once registered, you need to be aware of the various deadlines that apply to the filing of returns and payment of tax. There are exceptions but generally returns have to be filed by October each year if filing a paper return or 31 January if filing online. Online is HMRC’s preferred method. Penalties will be charged if you file your return late.

In addition to ensuring you meet the tax return filing deadlines, you need to ensure that you pay your tax on time, otherwise you will be subject to interest and possibly penalties.

For some people their tax liability is payable in one lump sum at the end of January each year, for others they are required to pay their tax in instalments, in January and July each year. For some, the tax may be collected via their tax code. We can help you to ensure that you pay your tax on time whichever method is required.

We know how tricky it can be keeping on top of things, so let us make the process as painless as possible. We will calculate and advise you of any tax payment due and the deadline for making the payment. We will prepare the return for your approval and submit this to HMRC on your behalf, again making sure that you aware of the filing deadlines.

If you need any assistance in completing your tax return or are unsure whether you need to file returns, please feel free to either call or email us.