Tax return is also known as Self-Assessments or Individual Tax Return. Every Self-employed Individual needs to submit this on an annual basis. Each Partnership business also needs to submit Self-Assessment separate from each business partner.
Usually a company director also needs to submit Individual Tax return. This Tax Return is the basis for establishing the tax liability of individuals, partnerships and companies. Completion of tax returns is part of our standard compliance service and is combined with providing the appropriate set of annual accounts required to accompany the return.
Would you like to know your tax bill well in advance to plan your cash flow? Tax return prepared at the last minute puts pressure on you to find immediate cash to pay your Tax liability. HM Revenue & Customs’ bank account is not part of faster payment systems.
Cheque posted to HMRC is not accepted as payment until clear funds are received in HMRC bank account. This misunderstanding can incur late payment fines plus interest. This is avoidable if the tax return is prepared to suit your needs. We prepare your self-assessment as soon as your accounts are finalised to give you sufficient time to meet the tax bill. This will help you avoid penalty and interest.
We can save you a lot of time, worry, and money by handling your self assessment for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability. We can act as your agent, dealing directly with the Inland Revenue on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.