Self Assessment means exactly what it says. It’s your legal responsibility to tell the Inland Revenue about your taxable income and expenditure, and to file your Tax Return by 31st January each year. There are penalties for late tax returns and there can be interest and surcharges on unpaid tax.
Did you know : –
There’s a £100 penalty if you do not inform the Revenue within the first three months of trading
There’s a £100 penalty for late Tax Returns
There’s a further £100 penalty for Tax Returns filed over six months late
All company directors need to file Tax Returns
You may need to file a Tax Return – even if the Revenue hasn’t sent you one this year!
You can apply to reduce Payments on Account if the tax payable for this year’s trading will be less than that for last year
Burrow and Crowe offer a personal taxation service (from £100 per Return). This includes calculating the tax you owe for this year, and the payments you need to make on account of next year’s tax. It also includes preparing the return, and providing you with a copy and detailed supporting schedules for your records. We ensure you take advantage of all the tax allowances available to you, and help you plan to reduce your liability wherever possible.
The majority of our Tax Returns are filed online to avoid the annual nightmare of returns being lost in the post!
To view our 2008 / 09 tax rates handbook please click here.
For further information on personal taxation and tax returns please contact Jon Crossley.
Tel: 0113 259 1666
Or complete this form to contact us directly: -