Personal Tax Return Specialists with Fixed Fees
Our vision and our achievements:
- Over one hundred ‘5 star’ “client satisfaction reviews” Save time, stay organised and Transform into a profitable business
- Business excellence award winners for 2023 for “Most Client-Focused Business Tax & Accounting firm” knowing you’re in safe hands
- 10 years of experience with HMRC and our client service guarantee, maximising your tax allowances
We go one step further for our clients.
Preparing and completing your self assessment tax return should not be stressful or costly. At affordable prices and efficiency guaranteed with GM Professional accountants based in London. We agree a fixed fee ,we make it cheap, affordable and hassle free to handle your tax affairs. Our office is based near Canary Wharf and Ilford Essex. Our self assessment accountants will provide tax planning solutions and this can help you to make informed decisions.
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Filing Self Assessment Tax Returns online
Your tax returns are in capable hands of our tax experts and we provide advice for your tax queries. We answer your tax returns question for free without obligation. This is part of our tax return package here in London.
Our professional accountants process your personal tax return in a fast accurate manner that enables you to keep your tax affairs up to date. Our accountants will use their expertise to help you claim a maximum tax refund if you are due one and shed light on areas where expenses can be claimed for in your personal tax return.
Our accounting firm handles the completion of personal tax returns all over London.If you are in business, either as a company director or self-employed, you must complete a self-assessment tax return. Correct and simple tax planning and advice can make your tax return for the year reasonably painless.
Self Assessment Tax Return Deadline
Timescales for Self Assessment Tax Returns
your income tax return should be filed by 31st of January, online, following the end of the tax year, which is 5th of April. Paper income tax return should be processed earlier, which the deadline is 31st of October. Not filing or paying your tax return on time, or when payment is due, will lead to penalty charge, which is kind of like a top up on your tax return. So we suggest looking for an accountant who will constantly remind you.
Asking yourself whether you need to complete a self-assessment tax return? You may be automatically notified by HMRC (HM Revenue & Customs). If you are not notified, then it is up to you to find out whether you are due on, or let HMRC know you need to file a tax return, otherwise you may end up with multiple penalties if you try avoid it. If HMRC does not know that you were self-employed in the previous tax year, then you MUST register as self-employed by 5th October the latest.
Filing your self-assessment tax return can be done by you, but can also be done by an accountant. It will benefit you if you do have an accountant (or if you don’t, to look for an accountant) who can do this for you, as they will give you the correct planning and advice to reduce your tax bill. Also reduce work load of the long paper work, as they are qualified professionals to file your self-assessment tax returns correctly. For you to file your self-assessment tax return online, which is easier, you have to register for HMRC online services. *Note: it takes at least a week to activate online access, so leave enough time, or register early.
Paper based filing of self-assessment tax return, using this method you should remember and always allow time for postal delays, so this should be done early as possible receiving or delivery of the forms. Double check if you have all the correct pages you need for your self-assessment tax return, in order for you to complete. If you do have any general queries, usually accountants will answer them for you.
Records for Self-Assessment Tax Return
Completing your income tax return can be fairly straightforward, providing that you have a good accountant, with excellent advice, planning and keep your tax records well-organised. You could organise it yourself, help out your accountant, rather than them having to contact you a lot about “what is what”. In your records it needs to include any details of employment income and/or other types of personal income, such as capital gains from selling investments or savings income. Details of tax reliefs you will be claiming on your self assessment tax return, such as charity or pension contributions.
For the self-employed, you will need your business tax records. If you run a business as a limited company, then you will need to complete a separate corporation tax return. Partnerships will need to include details of you and your partners and your income share you receive from the partnership on your income tax return. The partnership then will have to file a partnership tax return.
How Much does an accountant cost for tax returns the UK
The price can start from £250plus vat and this can go up to £650 plus vat. This depends on the type of tax return and the income too be declared. The services start from a basic income tax return to foreign income declaration.
The more complicated your tax return is, the longer it will take to complete. The price will reflect this, it is important to assess your requirements early in order to plan and stay compliant.
To talk to us right now regarding your Self Assessment Tax Return, Call us on 0208 396 6128. Or just email us on info@gmprofessionalaccountants.co.uk and we’ll be in contact.
If you are thinking of incorporating then visit our corporation tax page
