Personal Tax Returns
Feeling overwhelmed with the prospect of completing your personal tax return? Don’t worry, you’re not alone!
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 providing personal tax preparation services for clients since 2005, and our personal tax software makes the process fast and efficient. All of our client’s personal tax returns are completed by a dedicated tax advisor, and are filed online and compliant with the HMRC making tax digital regime.
Our tax return service offers you peace of mind, and an escape from endless form filling. From as little as £145 + 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 £95 + VAT.
We are ready if you are. Sign up now and get started!
Tax Return Services
We are able to assist with your tax affairs including correspondence from the HMRC, drafting your return, calculating your tax bill (or refund due), as well as the submission and corresponding proof of submission. As your tax advisor, we typically help prepare clients personal tax returns with the following income sources:
- Income Tax (PAYE)
- P11D Benefits
- Interest and Dividends
- Property 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 personal tax accountants can provide you with an assessment of the tax implications along with a quote based on the personal tax services we offer. We can look at your overall tax position across all income streams to ensure you are working as tax efficient as possible. We are also happy to offer tax advice as part of our service. If you are a limited company contractor use our dividend and salary tax calculator to give you an idea of your likely personal tax bill and take home pay for the tax year.
Please note, if you are already using our accounting service the Early Bird and Standard fees below are discounted by £50 + VAT.
If you sign up by 31 October
To take full advantage of our Early Bird Offer you must (by 31 October):
be signed up for our self assessment service
have paid our fee
supplied us with ALL information we require to prepare your personal tax return
have approved your draft personal tax return ready for filing with the HMRC
If you sign up AFTER 31 October
This fee applies to those who sign up for our service AFTER 31 October
However, if you like to do things at the last minute, and sign up for our service AFTER 31 December, our standard fee increases to £270 + VAT.
For those with additional income to report
Added to early or standard fee +VAT
This additional fee applies to those who have additional income to report such as:
Rental Property Income
Capital Gains Income
We may charge extra where you have a share or crypto trading account with a significant number of transactions
Top 3 reasons for filing your tax return early
Filing your self assessment tax return early gives you more time to double check your numbers, make sure everything is accurate, and ensure you have included any items where you can claim tax relief. 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?
Piece 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, that your tax affairs are sorted, and you won’t have to worry about it again until next year.
Do I Need to File a Personal Tax Return?
For some clients who have their own business and are new to the UK we sometimes get asked, what is a 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. Self Assessment is a requirement for anyone who receives income that isn’t taxed at source, and it requires you to complete a self assessment tax return that declares all of your income from all sources. 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 you have a tax bill due (and equally, if a tax refund is due).
Typically, our limited company contractor clients have a personal tax bill related to salary and dividend income, however other factors such as the marriage allowance, child benefit, and rental income will also be included. Note that inheritance tax is handled separately, and not through the personal tax system.
Most commonly for our clients the main reasons for filing self assessment tax returns are;
- They are a company Director being paid untaxed income in the form of dividends from their business;
- 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.