Self-assessment tax returns can be complex, with many taxpayers struggling to complete these correctly.
As a business owner, you will need to send a report of your annual earnings to HMRC. Your Self-Assessment tax return should also include the sources of your earnings.
A Self-Assessment tax return will include, amongst other things:
- Your P60 form, which is a summary of your income and tax deductions
- Your P11D form, which covers expenses and benefits
- Details of other personal income and investments
- Capital gains from the sale of assets, including shares and property
- Any taxable benefits from employers or the government
- Your National Insurance (NI) number and employer reference, if you have one
Ongoing changes to tax legislation mean that taxpayers risk paying too much tax and/or incurring penalties through failing to get things right.
Our team aim to ease the stress caused by self-assessment and help you avoid costly mistakes, by offering a comprehensive self-assessment service.
We can save you time, worry, and money by handling this process for you. We will complete your return, and offer advice on how you might better manage your tax liabilities.
Contact us today for further advice and assistance.