Need to file a tax return?
If you’re wondering “do I need to file a tax return?”, we’re here to help.
You’ll need to complete a Self Assessment tax return each year if you’re self-employed, a company director or have earned:
- Over £2,500 from property rental
- Over £10,000 from savings or investments
- Over £10,000 in dividends
- Any profit from shares, a second home or other assets
If you’re new to Self Assessment, you’ll need to register as self-employed by 5 October. The tax return deadline for paper returns is 31 October and for online returns (plus payment) it’s 31 January.
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What can an accountant do for you?
Enlisting the help of an accountant can guide you through the process. You'll get peace of mind that your tax returns are accurate and completed on time.
Letting someone else take care of your tax return also frees up a lot of time for you to spend on what you do best – growing your business.
Get professional help and advice for your tax return
Filing a tax return can be a bit daunting for anyone. There are bound to be things you’re unsure of, especially if you’ve never completed a tax return before.
However, mistakes can be costly when you need to declare tax.
Late submissions lead to penalties and incorrect submissions risk provoking HMRC enquires. A huge fine is the last thing you want as a growing business.
Can you really afford to run the risk of having inaccurate submissions?
Planning ahead is essential and part of that means getting the help you need as soon as you can.