Self-Assessment is for those who want to work for themselves. Every year all self-employed people have to submit their tax return to HMRC which could be a stressful experience. If you are self employed, HMRC require that you complete your self assessment tax return to ensure that you are paying the correct amount of tax each year.
There are a number of circumstances under which you may be required to register with HM Revenue & Customs (HMRC) and complete a self-assessment tax return. If you:
• Are recently self-employed or have become a partner in a partnership;
• Are a company director
• Have untaxed income - perhaps from rental property - or complicated income tax affairs;
• Have an income of £100,000 or more;
• Need to pay capital gains tax capital gains tax or have expenses to claim - you may need to complete a self-assessment tax return.
Contact us today for a free meeting on how we can help you with all your Accounting needs.
JH ACCOUNTING & PAYROLL SERVICES
Bilston, Wolverhampton, West Midlands, WV14 7AH
Tel 07469 922819