Whether you’re a sole trader, a director in a limited company, or a member of a partnership, you’ll need to fill out an annual personal tax return. This is how HMRC stays informed about your income, and helps you understand how much tax you need to pay each year.
Processing and submitting a tax return can be a complicated process, and is important to get right. The financial impact of a late tax return, or an incorrectly completed one can be substantial. Whether through penalties issued by HMRC (along with any interest on delayed payments), or simply through a lack of knowledge of the requirements and allowances of tax regulations, an incorrectly completed tax return can cost you money.
That’s why it’s important to put arrangements in place so that your personal tax return is filled in on-time. Not just to avoid fines, but to be aware of how much tax is due at the end of each year, so that you can prepare well in advance.
What we do
As with any specialised service, the benefits lie in seeking help from a professional who can handle the process effectively and efficiently. The same applies to personal tax returns.
Jacky Gregory Accountants offers can help with the following:
- Online completion of personal and partnership returns with all calculations
- Client schedule of tax payments due
- Saving significant time by keeping and maintaining records in advance of the return being due. You can focus on your business rather than spending time processing a complicated tax return.
- Handling any HMRC investigations on your behalf. Should any investigations take place, we can act as your agent, and can help to avoid investigations by providing returns in the right format.
- Identifying areas where tax doesn’t need to be paid, such as certain business expenses. We can identify any areas where you are entitled to claim, as well as the ways of claiming them.
- Accuracy and reliability. Ultimately, as long as everything provided to us is accurate, we’ll be able to make sure everything in your return is correct too.