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We have capacity to assist with individuals or businesses accounting, tax and business advice.
Learn More
We have capacity to assist with individuals or businesses accounting, tax and business advice.
Learn More
We have capacity to assist with individuals or businesses accounting, tax and business advice.
Feeling Overwhelmed by Self-Assessment Tax Returns?
Let Us Ease Your Burden!
0203 442 1900
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If you are a busy individual or someone with an occupied schedule, filling out the HRMC self-assessment tax return form can be a big headache. It is quite complicated for someone who doesn’t know about tax returns.
Furthermore, even a small or innocent mistake can result in big fines and penalties. It can become quite frustrating. Not to mention, you might end up wasting a lot of time in understanding terms and terminologies of which you may not be aware.
Luckily, we are the perfect self-assessment tax return help service. Now you can enjoy mental peace and breathe easily. You can focus on important tasks at hand while we make the entire process a breeze.
We can ensure that your document complies with the HRMC requirements while leveraging the possible reliefs and allowances.
Our Testimonials
Wow! Oxbridge Accountants are a real genius in their fields. They have amazing insight and expertise throughout to help with any question relating to business start-ups, tax, VAT returns, bookkeeping and general accounting services. They go the extra mile. They offer a more strategic business growth support for success. They are first class! I recommend them highly.
Kevin at South London office was friendly and highly professional. He provided comprehensive information and advice that was understandable. I felt he had my best interest at heart and wanted to see my business grow. I find “anything about Tax” to be scary, but he was able to allay my fears. There was no pressure to buy his service. I have actually put my tax return in his hands. services.
Kevin at South London office was friendly and highly professional. He provided comprehensive information and advice that was understandable. I felt he had my best interest at heart and wanted to see my business grow. I find “anything about Tax” to be scary, but he was able to allay my fears. There was no pressure to buy his service. I have actually put my tax return in his hands.
Had our first consultation today with Bilal today and cannot recommend and thank him enough. We were struggling with our capital gains tax and other tax return and he sorted it immediately He helped us to submit a return under 24 hours, despite the messy record keeping. It was refreshing to have such professional advice along with such humanity. 
Verity Accountants and Business Advisors are focused on offering award-winning services in a timely manner. They pay great attention to details and ask very important question that helps for accurate reporting and money saving. I sincerely recommend Verity Accountants to anyone seeking first calss accountancy services.
Mark, A. Director – Mayfair Trading Services ***** We have received exceptional services and support for the past years from Verity Accountants Ltd for all our bookkeeping, tax and accounting matters. They are completely committed to our needs. They treat us as individual and as a partner. They bring a breath of fresh air into our business. I would highly recommend Verity Accountants Ltd to any business looking for their type of accounting services.
Verity Accountants and Business Advisors are focused on offering award-winning services in a timely manner. They pay great attention to details and ask very important question that helps for accurate reporting and money saving. I sincerely recommend Verity Accountants to anyone seeking first calss accountancy services.
Amber receives business and accountancy services from Verity Accountants including an all-round service, such as payroll, VAT returns and End of year accounting services. The fabulous services have removed a lot of administrative burden so we are now able to focus fully on developing our business.
What is a Self-Assessment Tax Return?
A self-assessment tax return is an important part of the tax return in the UK. In simple words, a self-assessment tax return is a form that individuals and some businesses use to report their income and calculate the amount of tax they owe to the government.
In the United Kingdom, the deadline for submitting a self-assessment tax return is typically at the end of January each year. The form is used to report income from sources such as employment, self-employment, rental income, and any other income not already taxed at the source.
It is important to accurately complete an HRMC self-assessment tax return, as it is used to determine how much tax an individual or business owes. If the tax return is not completed correctly or is submitted late, it could result in fines or other penalties.
Why You Cannot Make Even Simple Mistakes on Self-Assessment Form
- You cannot afford to make mistakes on the HRMC self-assessment tax return form. If you make mistakes while completing your self-assessment tax return, you may be required to pay additional tax or penalties.
- In some cases, innocent mistakes may result in a penalty, while in other cases, the penalty may be waived if the mistake was due to a reasonable cause and was not intentional. However, the entire process of rectifying that mistake means contacting HRMC and going through that daunting process again. It will cost you both mental peace and a significant portion of your time.
- There is still a chance that you may be required to pay additional tax fees as a penalty, especially if you don’t see that mistake as soon as possible. To know that you have made a mistake, you must know the entire process.
Note: It is always best to try to avoid mistakes on your self-assessment tax return by being thorough and careful in your record-keeping and reporting. However, that cannot be possible if you have important things to look out for. Instead of grueling over the details, you can do the next best thing! Seek the advice of a professional accountant or tax expert to enjoy relief, a flawless process, and above all, the perfect compliance with HRMC self-assessment tax return policies.
Why Hire Us for Your Self-Assessment Tax Return
There are several reasons why it can be beneficial to use a professional accounting service to help with self-assessment tax returns:
- Accuracy
Our professional accountants have the knowledge and experience to ensure that your tax return is completed accurately and in compliance with the law. We can help minimize the risk of errors and reduce the chances of you having to face penalties or fines.
- Time-saving
Preparing a self-assessment tax return can be a time-consuming process, especially for those with multiple sources of income or complex financial affairs. With our help, it becomes significantly easier. Our professional accountants can handle the process for you, allowing you to focus on other tasks.
- Expertise
Accountants are trained to stay up-to-date on tax laws and changes, and they have the expertise to identify deductions and credits that you may not be aware of. It might mean more relief, lower tax bills, and allowances for you.
- Stress-free
The process of preparing a self-assessment tax return can be stressful, especially if you are not familiar with the process or have a busy schedule. A professional accountant can take this burden off your shoulders and handle everything for you.
While hiring us has its benefits, without doubt, the biggest advantage is the mental peace and time for anything you want to do.
Your time will be better spent on handling the important tasks while your HRMC self-assessment tax returns will be taken care of in the most effective manner possible.
Who Are Liable to Pay for HRMC Self-Assessment Tax Return
In the United Kingdom, self-assessment tax returns are required for individuals who are self-employed or who receive income from sources other than employment, such as rental income, dividends, or capital gains. Self-assessment tax returns are also required for some businesses, such as partnerships and certain limited companies. In general, self-assessment tax returns are for people who are responsible for reporting and paying their own taxes rather than having taxes withheld from their pay by an employer.
Some examples of individuals who may be required to file a self-assessment tax return include:
- Self-employed individuals, such as freelancers or contractors
- Landlords who receive rental income
- Individuals who receive income from dividends or capital gains
- Directors of a company who receive income from the company
- Individuals who receive untaxed income, such as tips or commission
- Some examples of businesses that may be required to file a self-assessment tax return include:
- Partnerships
- Limited companies that are not eligible to use the pay-as-you-earn (PAYE) system for tax withholding
- Self-employed individuals who are registered as a sole trader
It is important to note that the requirements for self-assessment tax returns vary depending on the country and the individual’s or business’s specific circumstances. Always consult with a tax professional or refer to the relevant tax authority for guidance on whether you are required to file a self-assessment tax return.
Make the Process of Tax Returns Seamless!
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Contact us if you would like to know more about our services or to book your free telephone or video consultation.
