Self Assessment Tax Returns

At Michael King & Co, we understand that managing your personal tax obligations can be a daunting task. But our experienced team can offer tailored advice and file your return so you can focus on growing your business.

We have a wealth of experience and have acted for many individuals and sole traders over the past 40 years. As a trusted accountancy firm based in Stanmore, Middlesex, we use our tax knowledge to maximise your disposable income. And, importantly, we’ll ensure you meet all of the regulations and deadlines set by HMRC.

What is a Self-Assessment Tax Return?

A self-assessment tax return is the system by which HMRC collect Income Tax from individuals who do not have their tax automatically deducted from their wages, pensions, or savings. This typically applies to self-employed individuals, company directors and those with additional income sources such as rental income or dividends.

Who Needs to File a Self-Assessment Tax Return?

You may need to file a self-assessment tax return if you:

• are self-employed as a sole trader earning more than £1,000 per year
• are an employee earning over £150,000 per annum
• are a partner in a business partnership
• are a company director
• receive income from property rental, savings, investments, or overseas
• have additional untaxed income

In fact, there are many criteria that determine whether or not you need to file a self-assessment tax return. So, if you are unsure, our team can help. We can assess your individual circumstances and provide tailored advice.

Self-Assessment Deadlines

Understanding and adhering to key deadlines is important to avoid penalties and interest charges. The tax year runs from 6th April until 5th April, with online submissions due on 31st January the following year. However, we will ensure that you never miss a deadline by offering timely reminders and support throughout the tax year.

Our Accountancy Services

We offer a comprehensive self-assessment tax return service to simplify the process and ensure accurate and timely submissions. Following an initial consultation, we will assess your tax situation and identify all sources of income, deductions, and allowable expenses.

Following the tax year end, we will calculate your tax liability accurately and consider all relevant allowances, reliefs, and deductions. We will then complete and file your self-assessment tax return on your behalf, ensuring that all information is correct.

We can also provide proactive tax planning advice throughout the year to minimise your tax liability and maximise your profit. Our ongoing support means we are always available to answer your questions and provide guidance.

Self-Assessment Tax Return Accountants in Stanmore

We are based in Stanmore in Middlesex but work for individuals all over London and further afield. So, if you want to focus less on your tax return and more on growing your business, we can help. We pride ourselves on our attention to detail, expertise, and dedication to client satisfaction. So, call us today on 020 8954 5879 or send us a message.