The term “Self Assessment” almost implies that the tax system is simple, and that the average taxpayer can easily deal with the submission of his or her own tax return. In a sense, this is true, except that the average taxpayer is taxed under PAYE and is not required to submit a tax return.
In the main, the requirement to submit a self-assessment tax return is restricted to those who are:-
- Self employed.
- Company directors
- Higher rate taxpayers
- In receipt of multiple sources of income
In other words, those people required to submit self-assessment tax returns are not the average taxpayers.
The constant stream of changes in the UK tax legislation – there were three new Finance Acts in 2010 alone – means that there is an ever greater risk of getting the returns wrong. Or of paying more tax than you are legally required to.
And as with every aspect of dealing with HM Revenue & Customs, there are penalties for getting it wrong, even if the error was nothing more than an innocent mistake.
We can save you a lot of time, worry and potentially money by handling your self-assessment tax return for your.
We will complete your tax return, submit it to HM Revenue & Customs, calculate your tax liability, and offer advice on how to minimise your tax liability.
We can act as your agent, dealing directly with HM Revenue & Customs on all matters relating to your tax affairs, and handling any self-assessment enquiries.
Contact us for more information about our personal tax services.