SELF ASSESSMENT SERVICES
Preparing for your self-assessment tax return is far from straightforward. Let our team of experts take the stress away and take care of it for you.
ENJOY PEACE OF MIND KNOWING THAT YOUR TAX RETURN IS CORRECT
The UK has one of the largest tax codes in the world, so preparing even the most straightforward tax return can be complicated. When you add onto that the complex and changing tax legislation, very few people look forward to completing their self-assessment, and even if you did, having the time available to sit down with it is another.
One thing is certain though: everyone is pleased when they know that it’s been done properly and submitted on time without penalty.
Here at SKS, we can do all of this for you, and provide the advice, support and reassurance you need. You can rest assured that it’s been done accurately, and be satisfied that you have minimised your tax liability – saving yourself time and money. If necessary, and should HM Revenue & Customs select you for a self-assessment inquiry, we can also deal directly with them for you, acting as your agent or attending meetings on your behalf.
We’ve grouped together some helpful information on self-assessment for you below.
If you’re self-employed, a company director or hold any other role that sees you receive income that is not immediately taxed, you’ll need to file a self-assessment tax return.
As a result, self-employed people need to maintain extremely detailed records of their sales and takings, their expenses and so on. This is just one of the challenges you’ll face completing your own self-assessment.
The most common reasons that a tax return may be required are as follows:
- You are self employed or a partner in a partnership
- You are a company director
- You have large amounts of savings or investment income
- You have untaxed savings or investment income
- You own land or property that is being let
- Your household receives Child Benefit and you have income in excess of £50,000
- You have income from overseas
- You have sold or given an asset away (such as a holiday home or some shares)
- You’ve lived or worked abroad or aren’t domiciled in the UK
Remember, the staff at HM Revenue & Customs are not tasked to advise you on how to organise your affairs and minimise your tax. Therefore, if you want to make sure you are paying the right amount of tax, you should consult a professional.
At SKS we use HM Revenue & Customs-approved software to:
- Complete your tax return
- Calculate your tax liability
- File the return online
- Liaise with you on the amounts to be paid and when they are due
As part of the above service, we can analyse your self assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted.
This process helps to minimise your risk of a HM Revenue and Customs inquiry into your tax affairs. If you are experiencing cash flow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue and Customs on your behalf.
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“We have used Ledger Sparks for over 10 years and found the levels of service to be high. As well as the usual compliance activity we use them for general business advice and assistance with bookkeeping when required. A very professional and friendly firm providing prompt response’s to business queries which is good for all SME’s.”
Colin Quigley, Director, Ashley Group