Self Assessment Tax Returns

We can assist you with your tax compliance obligations, which mostly involves the preparation and submission of Self Assessment tax returns, but also includes the preparation and submission of tax repayment claims, tax elections, Non-Resident CGT returns and much more.

In addition, as Self Assessment accountants, we register as your tax agent with HM Revenue & Customs (HMRC) and liaise with them directly regarding your tax affairs, taking that burden off you.

What is Self Assessment?

Self Assessment is the main system HMRC uses to collect direct tax and is the way in which tax returns are submitted. Essentially individuals, businesses and trusts ‘self assess’ their income and gains and include these on their own tax returns and submit these to HMRC.

Tax is usually deducted automatically from wages, pensions and some savings. Individuals with other income must report it in a tax return. Businesses and trusts are also required to report their income in a tax return.

Self Assessment tax returns - Individuals

Self Assessment tax returns - Individuals

We have extensive experience preparing and submitting Self Assessment tax returns for individuals, and have experience of a wide range of different types of individual clients, including the below.

For a free, no obligation consultation or a fee quote, please contact us.

Self-Employed individuals

We can assist self-employed individuals with accounts and tax compliance obligations, which mostly involves the preparation of annual accounts and submission of Self Assessment tax returns.

High Net Worth individuals

High net worth individuals often have complex tax affairs, comprising not only earned income, but a large amount of investment income too, often from a number of sources. In addition, it is not uncommon for a number of capital transactions to occur every year.

As a result, the preparation of a Self Assessment tax return for a high net worth individual is often very involved, and tax planning is considered at every stage.

Residence and Domicile

Residence and Domicile

An individual’s tax position is heavily influenced by their residence and domicile positions:

  • UK resident and domiciled individuals are taxed on their worldwide income and gains

  • Non-UK residents are taxed only on their UK sourced income and some UK sourced gains

  • Non-Domiciled UK residents can opt to be taxed only on their UK sourced income and gains, plus any overseas income or gains that are remitted (brought into) the UK

This is a very complex area of taxation, and it is an area that we specialise in. As well as providing tax advice in this area, we prepare Self Assessment tax returns for clients to ensure the correct information is disclosed to HMRC.

For more information around services we offer expats, see our Expat Tax page.

Property Landlords

From single property buy-to-let landlords to seasoned property investors, we prepare Self Assessment tax returns for landlords as well as offering tax advice to help maximise the tax efficiency of landlords’ portfolios.

For more information around services we offer for landlords, see our Property Tax page.

Barristers

Barristers

We have extensive experience acting for barristers, not only in respect of professional income, but also barristers’ wider tax affairs.

We assist barristers with their accounts and tax compliance obligations, which mostly involves the preparation of annual accounts and submission of Self Assessment tax returns as well as bookkeeping and VAT returns if required, as well as offering tax planning to barristers both in respect of their professional income, but also in respect of their wider tax affairs.

For more information around services we offer for landlords, see our Barristers page.

Employed individuals

Although tax is deducted at source on salaries, tax relief on pension contributions is often missed, as many individuals wrongly assume that they are receiving full tax relief on their contributions, but it can be the case with occupational pension schemes that only basic rate tax relief is obtained through the payroll, and the balance needs to be obtained though a Self Assessment tax return, which will generate a tax repayment/

Self Assessment tax returns - Partnerships

We can assist with business tax compliance obligations, including preparing and submitting Self Assessment tax returns for partnerships as well as their partners.

For a free, no obligation consultation or a fee quote, please contact us.

Self Assessment tax returns - Companies

As well as the preparation of statutory accounts for limited companies and submitting these to Companies House, we also prepare and submit corporation tax Self Assessment returns.

For a free, no obligation consultation or a fee quote, please contact us.

Self Assessment tax returns - Trusts and Estates

Most trusts which hold income generating assets (such as investments, rental properties or even bank accounts), or trusts that have capital gains, are required to submit Self Assessment tax returns to HMRC and pay tax on their income and gains. The same applies for estates where income and gains arise in the administration period.

Trusts and estates are a complex area of taxation, and it is an area that we specialise in. As well as providing tax advice in this area, we prepare Self Assessment tax returns for clients to ensure the correct information is disclosed to HMRC.

For a free, no obligation consultation or a fee quote, please contact us.

Other Related Services

Tax Repayment Claims

If you are not required to submit a Self Assessment tax return but a tax repayment is due (for example when an employee has not been reimbursed for expenses, or if a beneficiary receives a distribution from a discretionary trust), we can prepare tax repayment claims for you and submit these to HMRC.

Tax Elections

Tax elections can be made on a variety of things, such as Principal Private Residence (PPR) relief on a main home, Gift relief, Entrepreneur’s relief, relief for trading losses and much more.

A number of these are standalone claims, but some are claimed on the Self Assessment tax return, and we can assist with both types.

Non-Resident CGT returns

Individuals are required to submit a Non-Resident’s Capital Gains Tax return (NRCGT return) to HMRC within 30 days of the sale of a UK residential property if they are not resident in the UK for tax purposes when the property is sold. The disposal is also required to be reported in the relevant Self Assessment tax return as well, but the first priority is the NRCGT return.

In addition, NRCGT returns also need to be submitted by personal representatives, trustees, partners in partnerships, companies and funds if they are non-UK resident and sell UK residential property.

We have extensive experience advising non-UK residents as well as preparing and submitting NRCGT returns.

Tax Advice

As a Chartered Tax Adviser practice, we pride ourselves on providing tax advice to help you maximise your tax efficiency, on top of completing your accounts and Self Assessment tax returns. We can advise on a wide range of tax planning opportunities. For more information on what we do, see our services pages.

Tax Enquiries and Investigations

In the event of an enquiry or investigation by HMRC, we can deal directly with HMRC on your behalf to ensure the enquiry is dealt with in the most efficient manner, risks are minimised and additional tax liabilities & penalties are mitigated.

If we prepare a Self Assessment tax return for you, we offer an optional tax enquiry fee protection service, which for a modest annual fee covers our professional costs in dealing with an enquiry into your tax affairs.

Contact Us

If you would like a free, no obligation consultation or a fee quote, in respect of any of the services above, please contact us.