While filing your tax return we’ll look for any and all available options to reduce your tax liability. Our self-assessment service covers all areas of domestic income and non-resident assessment. The fixed fee includes basic personal tax planning advice both at the time your return is being completed and the following 12months.
Self-Assessment Tax Returns
Calculating Taxable Income
The first step is to identify all sources of income, employment, self-employment, property income, dividends, savings interest or capital gains. Next we review any allowable expenses and all available allowances are claimed.
Reviewing Tax Liability
Once the initial draft is completed, one of our tax advisors will review your tax liability and project your income for the following year. By including this additional step we aim to ensure your payments on account accurately reflect your future income which avoid you overpaying tax or underpaying and potentially incurring interest.
Signing and Submission
Both the payment and submission deadline for self-assessment is the 31st January of the year following the end of the tax year for which the return relates. We don’t wait for the deadline, by completing your tax return just weeks after the end of the tax year we can provide you with over 6 months’ notice of your tax liability before the payment is due.