Personal Tax Return

Are you feeling overwhelmed with the prospect of completing your personal tax return? Don’t worry, you’re not alone! Completing your tax return (often called a self assessment tax return) can be a time-consuming and stressful task, especially if left to the last minute. That’s where our specialist Personal Tax team comes in. We will take care of everything for you from completing the forms and calculating your tax liability or tax refund, to verifying all the information with you before submitting your tax return to HMRC on time. We take away the stress and worry – leaving you free to focus on the more important things in life. We have been preparing self assessment tax returns for clients since 2005.

Our tax return service offers you peace of mind, and an escape from endless form filling. From as little as £125 + VAT for a basic tax return, we can get your return submitted quickly, and easily. You do not need to be an existing client of our accounting service to use our tax return service, however if you already use our accounting services as a freelancer or SME, our basic tax return service is discounted down to £75 + VAT.

Tax return services

We are able to assist with correspondence from the HMRC, drafting your return, calculating your tax bill (or refund due), as well as the submission and corresponding proof of submission. Typically we help prepare clients personal tax returns with the following income sources;

PAYE income

P11D Benefits

Interest and dividends

Property income

Self-employed income

Capital Gains

Foreign income

Self Assessment Tax Return Pricing

If you have any specific requirements please get in touch to discuss the income that you need to report, and our tax return accountants can provide you with a quote based on the tax services we offer. We are also happy to offer tax advice as part of our service.

Early bird fee 125 + VAT.

To take full advantage of our Early bird offer, you must have signed up for our self assessment service, paid our fee, supplied us with all the information we require to prepare your personal tax return, and approved your draft personal tax return ready for filing with the HMRC, by 31 October.

 

Standard fee 175 + VAT.

This is for those who sign up for our service after 31 October.

However, if you like to do things at the last minute, our standard fee increases to £250 + VAT if you sign up for our service after 31 December.

Additional income to report = Additional charge of 50 + VAT

If you have any of the following additional income to report:

  a) Rental Property Income,
  b) Self-employed/Partnership Income,
  c) Foreign Income,
  d) Capital Gains Income;

there is an additional charge of £50 + VAT. We also may charge extra where you have a share or crypto trading account and where there are significant numbers of transactions that need to be collated by us.

Want to know more? We are always happy to talk, so call 020 7731 1117.

Top 3 reasons for filing your tax return early

Less Mistakes

Filing your self assessment tax return early gives you more time to double check your numbers and make sure everything is accurate. This will help to avoid any mistakes that could delay your refund or result in penalties from the HMRC.

Get Your Refund Sooner

If you’re expecting a refund, filing your tax return early means you’ll get your money sooner. So why not put that extra cash towards your savings or a fun summer vacation?

Peace of Mind

Filing your tax return early will help to ease any anxiety or stress you may be feeling about the process. Once it’s done, you can rest assured knowing that everything is taken care of and you won’t have to worry about it again until next year.

Do I Need to File a Personal Tax Return?

Most people in the UK get their taxes deducted at source, which means their employer deducts any taxes due before payment is made into the employees bank account. The Self Assessment is a requirement for anyone who receives income that isn’t taxed at source. Its purpose is to summarise the total income earned from the year (along with any taxes that were deducted) and then the self assessment tax return calculation confirms if any further tax is due (and equally, if a tax refund is due).

Most commonly for our clients the main reasons for filing self assessment tax returns are;

  1) They are a company Director being paid dividends from their business;

  2) They are a sole trader

Other examples of why clients may need to file a self assessment tax return is because they have rental income, income from abroad, other investment (dividend) income, or capital gains (mainly from buying/selling property or shares). If you need help or have any questions about our tax services feel free to get in touch.