Whether you are a new or experienced businessman, the uncertain self-assessment tax return system can be quite perplexing. HP Accountax will ensure that you won’t get worried by HMRC going through your books. Always record your self-assessment promptly; otherwise heavy fines are given out to numerous people because of the doubts related to dates and amounts. We’ll make sure that you pay your self-assessment tax return accurately, and on time, without missing losing out on allowances and/or deductions. No matter what your source of income is – pension, gains, employment income, or property or investments, you’ve earned it, you own it and HP Accountax ensures that you don’t overpay your taxes.
Our accountants will help you in evaluating your situation swiftly and effortlessly, also find out what you owe, and if needed our accountants can deal with HMRC on behalf of you.
Persons who need to send a Self Assessment include:
- Persons who are self-employed i.e. sole traders
- The person who is a partner in a business partnership
- A person who’s a trustee
- A person who’s an administrator of a descendants’ estate
- A person who’s a director of a company and his/her income is not taxed under PAYE
Even if the person is on PAYE, he/she may need to complete Self Assessment if:
- The person has additional income from property, investments, or other sources
- The person has taxable foreign income
- An annual income of over £100,000
- If the claims for expense are over £2500 and not reimbursed by employer
- The person has capital gains