Self-assessment tax returns and their submission dates can often cause a bit of confusion for many people. As HMRC doesn’t contact you with any notifications or reminders, it does mean you’re fully responsible for filing on time. It’s why we want to make sure you’re in the know about how it works.

To avoid any future mishaps, we’ll run you through everything you need to know about self-assessment filing and how we can take the hassle out of the process with our fast and efficient service.

Self-assessment tax returns & who needs to file?

The short answer is: anyone who is self-employed. The longer answer is that it extends to those who are directors of companies, receiving rental income, a partner in a business, or in receipt of income additional to your PAYE salary.

The only exception is if your trading income is exempt under the trading allowance. Regardless of whether you make a profit or a loss from your self-employment, you need to be filing a self-assessment tax return either way.

How to file

Your self-employed tax return should be completed and submitted to HMRC online. To avoid any mistakes that could be a pain to deal with further down the line, the filing process needs to be handled with care and precision. Any inaccurate tax calculations or failure to complete correct forms could land you with queries or rejections from HMRC.

To save yourself from this headache, we recommend letting qualified professionals like us handle your self-assessment tax return. Not only does this mean you’re in safe hands when it comes to submission guidelines, you’d also have one less thing to deal with on your to-do list.

How do we do it?

Why baa?

With our industry experience spanning over 15 years, we like to think we know a thing or two about taxes. As well as guaranteeing complete compliance and accuracy, we also promise to take the pressure off you having to remember deadlines! It’s a bit of a win-win.

We look after anybody who can call themselves ‘self-employed’, including limited companies, sole traders, freelancers, contractors and CIS workers. Having met loads of self-employed people in our time, we understand that not everyone has the budget to hire their own accountant or pay for a monthly accounting service.

That’s exactly why we’ve decided to keep things cheap and cheerful with our fixed-fee, year-end accounting services so that you can get the help you need exactly when you need it.

When filing for tax returns, all we’ll need from you is your personal details, basic income details and your UTR number. Once we have that, we can get to work calculating the figures ready for you to approve. With us, it really is that simple!

What is self-assessment filing?

The self-assessment is essentially a system HMRC uses to collect Income Tax. It’s why it’s so important to be accurate when filing as HMRC will use this to calculate what you owe. In some cases, you may even find you’ve paid too much tax and could be due a tax refund, which is something we have the expertise to navigate. Keeping hold of records such as bank statements and receipts will help you fill in your tax return correctly and identify this.

By opting to use our efficient self-assessment account filing services, you’ll prevent the risk of any missed deadlines. Late filing, especially without prior notice, can land you with a pricey penalty from HMRC. You can find out all about late tax returns and how to avoid the fines in our handy blog.

Get filing

Ready to simplify your life and start your self assessment tax return journey with us? Get in touch today to speak to one of the team directly.