Self-assessment is the process used by HM Revenue & Customs (HMRC) to collect income tax.  Income tax is usually collected automatically from wages, savings and pensions. However, there are exceptions, such as if you have other income; if you are in a business partnership or if you are self-employed as a sole trader and earned more than £1,000 in the tax year. It is a legal requirement to submit a self-assessment form and supporting documents to declare and pay your personal income tax liabilities. You also need to meet the deadlines imposed by HMRC so that you avoid unnecessary fines and interest charges.

As experienced professionals in this field, we can help with your filing and tax return obligations, whether you are a private client, a sole trader, a partnership or a company director. In certain circumstances, you might also be entitled to tax relief.  Our range of self-assessment services include:

• Providing advice on:
  • Chargeable assets to maximise tax relief
  • Inheritance tax
  • Stamp duty and land tax
  • Tax advantages of different business structures
  • Tax savings schemes

• Liaising with HMRC to ensure compliance with regulatory requirements
• Pension planning
• Preparation of personal, partnership and trust tax returns
• Tax efficient remuneration planning