Self Assessment Accountants for Tax Returns
Who needs to file a self assessment tax return?
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If HMRC believes you need to file a self assessment tax return, they will notify you. However, it is your responsibility to register with HMRC if you receive untaxed income from self-employment, or if you are a company director, or you receive income from renting or selling property or have any other income which is not taxed at source.
Self Assessment Returns
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You have the choice of completing your tax return yourself. The downside in doing so is that you may not be aware of how to claim your full expenses or any reliefs. It always pays to have a second pair of eyes on your tax return in case of any errors. If you involve Perrys Accountants, you’ll benefit from our professional expertise, and your tax return will be completed correctly. What’s more you won’t have to wrestle with your tax return yourself, and spend your valuable time doing so.
Can you file a self assessment return online?
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Paper self assessment returns are still an option, and you can download Form SA100 from gov.uk for completion and return. Increasingly tax payers are filing self assessment returns online. For online returns you need to register for self assessment or sign in to your self assessment account.
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What are self assessment deadlines?
The deadlines for self assessment returns are October 31st in the year the tax year ends for paper returns, and January 31st in the following year for online returns. For the tax year ending 5th April 2020, the deadline for paper returns is 31st October 2020, and 31st January 2021 for online returns.
Fines for late returns start at £100 for being a day late, rising to £1000 plus additional costs if your return is over 6 months late.
What software can I use for self assessment?
A range of software is available which will help your self assessment return, including Quickbooks and Xero.
It’s simple to copy and paste fields from these programmes into your online tax return form.
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Can your accountant file your tax return?
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At accounted, we file tax returns, including self assessment returns, for a large number of clients. We apply our professional experience to minimise our clients’ tax burden, and we ensure returns are filed on time and avoid penalties. That frees up your time for your business, and relieves you of the headaches that completing a tax return can sometimes cause.