Tax Returns and Self-Assessment

Tax Returns and Self-Assessments are completed for:

  • Individuals and sole traders
  • Partnerships
  • Limited companies

When submitting your tax returns, it’s important that:

  • Your returns are correctly completed
  • They are filed on time
  • All back up records are retained for the appropriate period of time

Beware of the penalties!

Length of delay

Penalty you will have to pay

1 day late

A penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe.

3 months late

£10 for each following day – up to a 90 day maximum of £900. This is as well as the fixed penalty above.

6 months late

£300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.

12 months late

£300 or 5% of the tax due, whichever is the higher.

In serious cases you may be asked to pay up to 100% of the tax due instead. In some cases the penalties can be even higher than this.

These are as well as the penalties above.

How We Can Help You

We can assist with:

  • Advice on your tax liabilities
  • Negotiating with the collector , if necessary
  • Identifying suitable tax planning opportunities
  • Completing all the necessary tax computations
  • Dealing with all correspondence from HMRC

Do you fancy having a go at your own tax return?

We’ll check it over and make sure you haven’t left anything out.

We take away the worry from you.

As a sole trader and also being one of the many people who never worry about their tax returns until the last minute, Anna Goodwin Accountancy Limited once again has taken away all the trouble and worry by doing it for me!

With the minimum amount of effort by me! Once she has all the right information and paperwork I can concentrate on trying to earn a living, and leaving the troublesome tax returns to someone who knows and understands what they are doing.

Shaun Pearson

Business Owner

Want More Information?

Contact us today to discuss the particular needs of your business. We’ll be happy to help!

© Copyright 2018 - Anna Goodwin | Company Number 8093414 | VAT Number 244621912
Registered Office : 47 William Street, Walsall, WS42AX | Tel: 07711 805183