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Self Assessment Tax Returns

Who needs to submit a online self assessment tax return?

In a nutshell, if you have income that is not taxed through PAYE you will need to submit a self assessment tax return to the HMRC.

How can we help?

Tax can be very complex, even for the simplest of set ups. It is usually always best to seek professional advice. Online tax returns are here to stay, so doesn’t it make sense to work with online tax return experts?  Luckily, that’s exactly what we are and we will take care of everything for you. Our online self assessment tax return professionals will work to reduce your bill as much as possible or ensure you receive the repayment that you’re due.

FAQs

If I’m self-employed what Tax Returns do I need to submit?

If you are self-employed, you have to fill in a Self Assessment Tax Return every year. We can complete your tax return online on your behalf.

You will be asked for details about profits from your business and any other income that you have to pay tax on, such as rental income. This is used to work out how much tax and National Insurance Contributions you have to pay. You must provide the correct information and return this to HMRC on time. You must keep all of your records so that you can fill in your tax return fully and accurately. The more detailed records you keep the easier it will be to answer any questions HMRC might have.

What are the deadlines for sending my online Self Assessment Tax Return?

Your return must be with the HMRC by midnight on the 31st January.

You will be charged a penalty if your Self Assessment Tax return isn’t received on time. When you submit your Self Assessment tax return, you will receive a Self Assessment statement showing what tax you owe and how to pay. If you have paid too much it will show how much you will be repaid. If you file your Tax Return online, you can view this before you even receive it in the post.

What records do I have to keep?

By law, everyone must keep records of their income, and of any ‘capital gains’, for at least 22 months after the end of the tax year - and if you are self-employed as a sole trader, you’ll need to keep these records for at least five years and ten months after the end of the tax year.

We’d always recommend that you manage your finances in an organised fashion from Day One - in fact, as a self employed person it’s a legal requirement. That doesn’t necessarily mean investing in expensive accounting software, unless you feel you really need it - but instead, at a most basic level, keeping a record of every payment you receive from a customer and every business expense you have. If you enter everything into a simple spreadsheet in Microsoft Excel, you’ll always know where you stand.

Can this really all be done online?

Absolutely, Any modern business should have the resources to work online and we're no different. Most accountants will be working in an old fashioned way with old technology. That is not what we aim to do at Rymer Associates. We're a forward thinking firm, we embrace working online and understand the benefits to our clients it provides. Not many Accountants offer the chance to have complete control of your accounts and tax from the comfort of your own office!

what we provide

Complete accounting solution, from annual accounts to bookkeeping and payroll

Your own dedicated accountant who loves doing the stuff you hate

Online clientPORTAL for you to upload your paperwork direct to us (or freepost envelope should you wish to send it)

Management of deadlines to ensure compliance

All returns and filings (let us do the hard work)

Pay monthly by direct debit

Full support and representation on any HMRC enquiry

Unlimited help and advice from people in the know

Complete accounting solution, from annual accounts to bookkeeping and payroll

Your own dedicated accountant who loves doing the stuff you hate

Online clientPORTAL for you to upload your paperwork direct to us (or freepost envelope should you wish to send it)

Management of deadlines to ensure compliance

All returns and filings (let us do the hard work)

Pay monthly by direct debit

Full support and representation on any HMRC enquiry

Unlimited help and advice from people in the know

We provide online accountancy services, across the UK, from as little as £18.75 a month.

The modern world requires a modern way of accounting. This is exactly what we offer. The cloud has made online accounting not only a possibility, but a real asset to small businesses . We have packages to suit everyone. So whether you work in an office and want to keep an eye on everything day to day or you work in construction and looking for an easy way to manage your paperwork we have a solution that works. Plus we give all our clients SageOne for free (saving you £240 a year!)

It really is as simple as taking a picture of your receipt or invoice on your phone and uploading it to our clientPORTAL. We do the rest!

Plus, we’re small business experts! businesses from each and every part of the UK are moving their accounts to us and with our easy switch service, we manage the move from your old accountant. So you can sit back and relax, safe in the knowledge that everything is in hand.
We offer everything from:
Annual Accounts
Bookkeeping
VAT returns
Payroll
Tax Returns
and even Mangement Accounts

 

Talk to an expert.

Sam Boothroyd CGMA
- Founder

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