Self Assessment
Your time is scarce and valuable, so why not hand over your Self-Assessment tax return to our experts for just £150 plus VAT?
FOCUS ON CONTRACTS
we’ll handle the return
A self-assessment tax return is a form that business owners, landlords, CIS Contractors and higher-rate taxpayers must send HMRC annually to report their earnings from all sources. Tax is calculated based on total income; recognition is given for any tax paid and deducted at source.
A self-assessment covers earnings in one tax year, from April 6th to April 5th each year.
You’ll need to complete a Self- Assessment tax return if:
- You’re self-employed
- You’re the director of a Limited company
- You earn over £150,000
- You earn over £50,000 and claim child benefit
- You earn foreign income over £2,000
- You earn income that has not been taxed
Filing deadlines
- October 31st for paper returns
- January 31st for online returns
- January 31st for balancing payments for the last tax year, and first payments on account for the current tax year.
- July 31st for second payment on account deadline
HMRC penalties
Penalties for late filing start from £100, effective when your return becomes overdue. The longer you take to file your return, the more the penalty will be. Late filing penalties are not usually waived, even if no tax is due.
Click here to find all the useful
resources created by expert contractor accountants.
BLOG
News & Updates
The effects of taking a Bounce Back Loan
The Bounce Back Loan provided stability and reassurance for many small businesses during Covid-19; the effects are still being felt today. The Bounce Back Loan
A guide to remortgaging for freelancers, contractors, and the self-employed
Individuals with non-traditional job statuses often encounter unequal treatment from lenders because of their unconventional income sources, and it’s unfair. For freelancers, independent contractors, and
Limited company directors: Do you know how much personal tax you incurred for 2024/25?
As a limited company director, you’ll need to keep on top of your bookkeeping and personal tax obligations for legal compliance and your own financial