PERSONAL TAX / SELF ASSESSMENT RETURNS

Self Assessment Returns (SA100) can be prepared for sole traders and directors, as well as those in employment under PAYE but with additional income, eg child benefit and earn over £50,000.  We are happy to prepare a self assessment return from receiving “a bag of receipts” to receiving organised excel spreadsheets and structured files of invoices.

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Tax Returns are issued shortly after the end of the fiscal year which runs from

6 April to 5 April the following year. Tax Returns are issued to all individuals that HMRC deem required to complete a Return, normally self-employed or company directors.

Tax Returns are required to be filed by 31 January following the end of the fiscal year, eg 2019-20 tax year to be filed by 31 January 2021. Paper Returns must be posted to reach HMRC by 31 October latest (three months earlier than if filing online).

Penalties will apply if Tax Returns are filed late, for example
 

£100 if filed after 31 January whether or not any tax is due.
 

Additional penalties maybe charged, for example:
 

• More than 3 months late - £10 daily to a maximum of £900

• More than 6 months late – an additional £300 or 5% of the tax due, whichever is greater

• More than 12 months late – a further £300 or 5% (as above). Occasionally 100% of the tax due maybe charged!