Self Assessment Accountant What is Self Assessment? Self Assessment tax return is a form that business owners need to fill in to report how much they have earned and from what sources. The form is sent to HMRC each year. Self Assessment refers to companies given the responsibility of working out how much tax they should pay, based on their earnings. The Self Assessment tax return form is usually just called a tax return.
The tax return will cover most income earned by the end of the fiscal year by January 31st and needs to be filed with HMRC if you are filing it online. If you are not filing it online, it must be with HMRC by the 31st October after the end of the fiscal year. Sometimes the sole trader’s accounting year does not match with the tax year. In this case, they will file the report on their tax earnings for the accounting year that finished during that tax year. Some income is also earned tax-free and will therefore not be reported on the tax return at all. Certain tax breaks are also handled through the tax return.
Self Assessment Services If your tax return is not completed correctly, the HMRC can impose penalties. Our accountants understand the penalties and fines consequential to businesses who do not file their self assessment tax return. We can help you with correctly and accurately filing your tax return to avoid those penalties and fines. We are also aware of so many problems that individuals who do not complete their tax returns correctly, but we have the expertise to help. Our self assessment accountant services cover all aspects of tax return and will help you with filing yours correctly and on time. C & C Accountancy & Taxation Services have a team of accountants who can help you and your business with all your accounting requirements. We give our full attention to you and your business’s needs and take into account all the legal requirements needed when it comes to self assessment tax return. For more information on our self assessment services and how our self assessment accountants can help you or your business, please contact us using the form or call us on 01708 471 442 and we will be happy to call you back at a time that is convenient for you.