Self Assessment Tax Returns
An individual has to submit a Self-Assessment Tax Return to HMRC every year if they have more than one source of income or any other source of income other than employment.
When it comes to self assessment tax returns Liverpool businesses generally prefer to use the specialist services of professional accountants for peace of mind, tax-efficient scheme maximisation and to outsource the time and complexity of managing financial accounts and tax burdens.
MJF Accountancy provides a high-quality personal financial service within the Liverpool, Greater Merseyside and wider North West area. As Liverpool personal tax returns specialists, we can provide our clients with a top-quality service that helps sole traders and businesses to meet their tax obligations whilst outsourcing the complexity of the financial management and tax return process to the specialists.
Leading self employed accountants in Liverpool
When you need specialist support with self assessment tax returns Liverpool-wide, MJF Accountancy provides a cost-effective, expert package around your needs.
Your self-employed tax return obligations
Remember that every individual is obliged to submit a self-assessment tax return to HMRC each year if they have multiple income sources or an additional income source beyond their immediate employment. In today's gig economy age, where many people have side-jobs, businesses, buy-to-let properties, dividend income, pensions and other sources of income, it makes sense to use Liverpool personal tax specialists to ensure you are paying the right amount of tax, that you are staying within the law (which changes regularly!), and that you are not paying over the odds.
As specialist self employed accountants in Liverpool, we are perfectly placed to ensure that our clients follow the taxation regulations without needing to manage the onerous administration required for self-assessment and that they don't pay over the odds! We can often advise on legal measures and allowances that help our clients to avoid paying excess tax.
When does the tax year run?
Each tax year runs from 6 April to 5 April and self-assessments have to be submitted to HMRC by 31 January for the previous year. In the tax return, all income received by the individual is collated, along with their allowable expenses. This information is used by HMRC to calculate how much income tax and national insurance the individual needs to pay. The tax return is fairly long and can be complicated, with some complex questions about accountancy calculations and provisions for areas such as adjustments and balances.
How we help
MJF Accountancy takes the hard work off your hands. We can prepare your books and will use your bookkeeping information to produce your tax return in a timely fashion before submitting it on your behalf. We will check that any calculations for income tax or NI contributions are correct and answer questions on your behalf if these arise from HMRC.
Contact the Liverpool personal tax returns specialists to find out more on 0151 724 3960 or email firstname.lastname@example.org for your free consultation.
So what are you waiting for?
Call us today on 0151 724 3960 to arrange your free consultation.
Alternatively, you can email us at email@example.com or you can use our website contact form.