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Self Assessment Personal Tax Return

Completing a self assessment tax return can be a stressful exercise even if there are few entries to make. When the January Self Assessment Tax Return filing deadline approaches the stress levels will rise even further!

A personal tax return is routinely issued to taxpayers whom HMRC believes have:

  • Income from self-employment
  • Lettings income from Property
  • Other income which is received where tax has not already been deducted
  • Complex tax affairs, for example, higher rate taxpayers or company directors.

There are two main types of personal tax return. If you have simple tax affairs including, employees, pensioners and the self employed with turnover less than £64,000 (and expenses less than £30,000), you’ll receive the shorter personal tax return.

If your affairs are more complicated you’ll receive a full tax return. This tax return has more pages plus supplementary sections and you may need to complete extra pages, depending on what sort of income you receive.

We at KRA will:

  • complete your tax return
  • calculate your final tax liability
  • file the tax return on line
  • liaise with you on the amounts to be paid and when they are due

In addition to this we can analyse your self assessment tax return to see if any tax savings can be made and, if we have information for two or more years, then we can look to see if there are any anomalies that need to be addressed before the latest personal tax return is submitted.

By giving you a fixed, competitive price and, provided that you can supply the information within a reasonable time scale, we can take the worry away when it comes to self assessment tax returns, allowing you to concentrate on running your business or enjoying additional leisure time.