You may be required to file self assessment tax return when:
- You are self employed or a partner in a partnership
- You are a company director
- You have large amounts of savings or investment income
- You have untaxed savings or investment income
- You own land or property that is being let
- Your household receives Child Benefit and you have income in excess of £50,000
- You have income from overseas
- You have sold or given an asset away (such as a holiday home or some shares)
- You’ve lived or worked abroad or aren’t domiciled in the UK
Despite the staff at HM Revenue & Customs being ever so helpful, they are not tasked to provide you with advice on how to organise your financial affairs and minimise your tax. Therefore, if you want to make sure you are paying the right amount of tax, you should consult a professional.
We use HM Revenue & Customs-approved software to:
- Complete your tax return
- Calculate your tax liability and tax due
- File the return online
- Liaise with you on the amounts to be paid and when they are due
As part of the above service, we can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted. This process helps to minimise your risk of a HM Revenue & Customs enquiry into your tax affairs. If you are experiencing cashflow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue & Customs on your behalf.
By giving you a fixed, competitive price, we can take the worry away when it comes to self assessment tax returns. Some people worry about what they’re not good at. Don’t. Concentrate on what you are good at. You can outsource what you’re not good at and that’s why we offer our service to business like yours in areas such as Lowton, Newton-le-Willows, Culchetch, Leigh, Wigan, Ashton-in-Makerfield, Culcheth, Warrington, Manchester and Liverpool.
Should you decide to process your books yourself and opt out of outsourcing bookkeeping/accounting services, accounting software will help you prepare your cashflow forecast, allowing you to update your projections if there’s a change in market trends or your business situation. Planning for seasonal turnover and profit changes is simplified and you can also make “what if” calculations. Most banks require profit and balance sheet forecasts as well as cashflow, should you require their services or products. Many accounting packages will assist with preparing these documents.
Please contact us for further information