Self Assessment Tax

Do you need help completing your 2017 Tax Return?

Hornbeam can help!

No matter what your sources of income are, we can collate the information you provide and check all costs and/or allowances are claimed before advising you of your tax liability for the year. Once you have approved the form we will submit it online to HMRC.

We are general practitioners but have great strengths - tax returns with residence issues, foreign income and rental income.

This is included as part of our traders and company directors services.

For more information about how we can help you contact us at phil@hornbeam-accountancy.co.uk or telephone 01603720424.

Can you say "yes" to one of the questions below?
If so you may be required to submit a self assessment tax return

  1. Are you self-employed - either as a sole trader or in partnership?
  2. Are you a company director, minister, Lloyd's name or member?
  3. Is your annual income in excess of £100,000?
  4. Do you already pay tax through PAYE & additionally have income in excess of £10,000 from
    taxed savings & investments, or in excess of £2,500 from untaxed savings & investments?
  5. Do you already pay tax through PAYE & additionally have income in excess of £10,000
    from property (before deducting expenses), or, £2,500 after deducting allowable expenses?
  6. Do you have no current income that is subject to tax under the PAYE system?
  7. Are you employed & need to claim expenses in excess of £2,500?
  8. Do you or your partner receive Child Benefit & do either of you have income over £50,000?
  9. Are you 65 or over & receive a reduced age-related allowance?
  10. Do you get income from abroad?
  11. Do you have income from trusts, settlements or estates?
  12. Do you have any Capital Gains Tax to pay?
  13. Have you lived or worked abroad or are not domiciled in the UK?
  14. Are you a trustee?
  15. You had a P800 from HMRC saying you didn't pay enough tax last year & you didn't pay the balance voluntary or through your tax code.
     

Has HMRC asked you to complete a tax return?
If they do - you must, even if you have no tax to pay or you will be fined - yes no submittal of a nil tax return will cost you money!  You can however contact HMRC and de-register as a self assessment tax payer if you feel you are no longer required to complete a tax return.

The obligation to register with HMRC rests with you.
The above questionnaire is based on HMRC’s current self assessment filing requirements. As with all matters that relate to UK tax there are grey areas. If you complete the check list & are still unsure if you need to file a tax return, or if you need help with the registration process, please give us a call on 01603720424 or email phil@hornbeam-accountancy.co.uk