Self Assessment is used to tell HMRC about any income that you might need to pay tax on. For instance, if you’re a sole trader, receive income from property, a partner in a partnership (and for the partnership itself), or the director of a limited company who also receives dividends as a shareholder.
Submitting Self Assessment doesn’t always mean you’ll have a bill to pay, and can sometimes result in a tax rebate.
When should I submit my Self Assessment tax return?
The deadline for submitting an online Self Assessment tax return is normally 31st January following the end of the tax year it relates to. If you need to submit a paper return, the submission deadline is 31st October following the end of the tax year it relates to.
You might need to submit a Self Assessment tax return if you earn income which isn't taxed before it reaches you. For instance, if you're a sole trader, a partner in a partnership, a company director taking dividends, or even if you earn money from a side-hustle or property.
How can an online tax accountant help me?
Our friendly team of accountants are all based in our offices in London and in the Northwest, but because we operate digitally, we can work with you wherever you are.
As well as taking care of your Self Assessment tax return for you, we’ll make sure you and your business are as tax efficient as possible! You can also talk to your accountant as often as you need to, all through the year.
Do sub-contractors need to submit Self Assessment tax returns?
The good news is that some sub-contractors pay too much tax during the year, and then get this back once they submit their Self Assessment tax return.
Do I need to make Payments on Account?
If your Self Assessment tax bill is more than £1,000, you'll need to make Payments on Account. HMRC will assume that your tax bill will be the same next year, and ask you to make an advance payment towards it at the same time as paying this year's bill. The advance payment is half of this year's bill. Read our guide to Payments on Account to learn more.
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As someone who still struggles to navigate HMRC, self assessments, tax etc etc - I really trust and love working...
As someone who still struggles to navigate HMRC, self assessments, tax etc etc - I really trust and love working with TAP.
They make me feel so at ease and always there to help me! Josh is a life saver honestly and great to work with!
Very organised and detailed work. Quick replies and everything is done on time. In particular I would like to thank...
Very organised and detailed work. Quick replies and everything is done on time.
In particular I would like to thank Lily Compton who helped me with my self-assessment!
I've had a brilliant service and assistance from Ben, most recently in getting my tax return filed at the last...
I've had a brilliant service and assistance from Ben, most recently in getting my tax return filed at the last minute, despite my lateness in getting my figures to him!
The team as a whole have been nothing but friendly and professional, answering my - many - questions throughout the past year.
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