Self-Assessment Tax Returns

Stress-free tax filing with expert calculation and support.

For millions of people in the UK, the tax year ends with a headache. The Self-Assessment tax return is a mandatory requirement for many. It applies to freelancers, landlords, high earners, and investors. Unfortunately, the system is often confusing and unforgiving. Therefore, mistakes are easy to make. At Tax-Pert, we remove the complexity completely. Because we deal with HMRC daily, we navigate the forms quickly and accurately. We ensure you pay the right amount of tax, and not a penny more.

Who Needs to File?

Many people assume tax is deducted automatically from wages. However, this is not true for everyone. You must file a return if you are self-employed earning over £1,000. Furthermore, landlords with rental income must declare it.

Additionally, if you earn over £100,000, you usually need to file. Directors of companies must also submit returns. Even claiming Child Benefit while earning over £60,000 triggers a requirement. Therefore, checking your status is vital. If you fail to file when required, penalties apply immediately.

The Risk of DIY Filing

HMRC provides an online portal for individuals. Consequently, many people try to file themselves. However, the questions can be ambiguous. “Allowable expenses” is a broad term that confuses many. If you claim too much, you risk an investigation.

Conversely, if you claim too little, you lose money. You might miss reliefs for pension contributions or charitable donations. Therefore, DIY filing is often a false economy. The money you save on fees, you often lose in missed tax savings. Tax-Pert ensures your return is optimized professionally.

Identifying Every Deduction

Our primary goal is to minimize your liability legally. We systematically review your financial year. We ask the right questions to uncover expenses. For example, did you use your personal car for business? Did you buy protective clothing or uniforms?

Many people forget about professional subscriptions or training costs. However, these are often deductible. We also look at “payments on account” made last year. We ensure these are deducted from your final bill. Consequently, you never pay the same tax twice.

Property Income Expertise

Landlords face specific tax challenges. Recent changes to “Section 24” have altered how mortgage interest is treated. Now, it is a tax reducer, not a deductible expense. This confuses many property owners.

Therefore, we calculate property tax with extreme care. We distinguish between repairs (deductible) and improvements (capital). This distinction is critical for compliance. Furthermore, we handle furnished holiday let rules if applicable. Thus, your property portfolio remains tax-efficient.

Investment and Capital Gains

If you sold shares or a second home, you may owe Capital Gains Tax. This is reported on the Self-Assessment return. The calculations for gains can be intricate. You must factor in buying costs and improvement costs.

We handle these complex computations for you. We also check if you have unused losses from previous years. These can offset your current gains. Therefore, we look at your tax history, not just the current year. This holistic view saves you money.

Managing the Deadline

The deadline for online returns is January 31st. Every year, HMRC’s website slows down as millions rush to file. Leaving it late is incredibly stressful. Therefore, we encourage early engagement.

We aim to file your return months in advance. Filing early does not mean paying early. You still pay on January 31st. However, filing early gives you time to save. You know exactly what the bill is. Consequently, you avoid nasty financial surprises after Christmas.

Handling HMRC Enquiries

Occasionally, HMRC selects returns for a random check. This can happen even if you are honest. If you filed yourself, dealing with an inspector is daunting. However, if we act as your agent, we handle the correspondence.

We defend the figures we submitted. We explain the technical reasons for our calculations. Therefore, you do not face the inspector alone. Having a professional accountant reduces the stress of an inquiry massively. It provides a shield between you and the taxman.

A Simple, Digital Process

We make the process easy for you. You do not need to visit our office with a bag of paper. We use secure digital portals for data collection. Moreover, you can upload documents from your phone.

Once we prepare the return, we send it to you for electronic signature. You review it, sign it, and we submit it. Since, the whole process is fast and secure. Furthermore, we advise you on exactly how to pay HMRC.

Final Thoughts

Life is too short to worry about tax forms. The Self-Assessment return should be a routine task, not a burden. Therefore, delegate this responsibility to Tax-Pert. We offer peace of mind, accuracy, and potential savings.