Accountancy Services for Individuals
Many people are required by HMRC to complete an annual self-assessment.
If you are self-employed, a company director, receive rental income or have income from savings and investments of more than £10,000 you may need to complete a self-assessment tax return.
The government are implementing changes to the self-assessment system, replacing it with a quarterly digital submission (Making Tax Digital). This is due to come into force in April 2018.
For either the current self-assessment, or the new MTD, we can help you pull together the information you require and submit on your behalf.
We are experienced accountants in Keyworth and Kegworth. As a small team we offer a professional and personal service. Our aim is to make your annual self-assessment as stress free as possible. We also offer services for limited companies and sole traders.
You’ll need to send a tax return if, in the last tax year:
- you were self-employed
- you have £2,500 or more in untaxed income, for example from tips or renting out a property
- your income from savings or investments was £10,000 or more before tax
- your income from dividends from shares was £10,000 or more before tax
- you made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax
- you were a company director – unless it was for a non-profit organisation (such as a charity) and you didn’t get any pay or benefits, like a company car
- your income (or your partner’s) was over £50,000 and one of you claimed Child Benefit
- you had income from abroad that you needed to pay tax on
- you lived abroad and had a UK income
- your income was over £100,000
- you were a trustee of a trust or registered pension scheme
- you had a P800 from HMRC saying you didn’t pay enough tax last year – and you didn’t pay what you owe through your tax code or with a voluntary payment
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