We'll handle your self assessment so you don't have to.
If you meet any of the following criteria, you will need to complete a self assessment tax return.
HMRC provides the option to complete your Self Assessment tax return online. You can use this service to:
If you are not confident in your own accountancy skills it is recommended that you hire an accountant to do this for you. It is relatively inexpensive and can save you time and money.
To complete your Self Assessment tax return yourself you will have to visit the government website and complete a SA100 form. You will have to provide details of untaxed income, charitable donations, pension contributions and any benefits e.g. child benefit, Blind Persons Allowance etc
You may have to complete an SA200 form, if you do the government will send you one.
Self Assessment tax return is a process whereby HMRC collect income tax from individuals who meet certain criteria e.g. Self employed people, company directors etc.
Normally tax is deducted through the PAYE system through peoples wages. Business and people with other streams of income will have to complete a tax return.
Most UK taxpayers will not have to complete and file a self assessment tax return.
IF HMRC thinks that through the PAYE system you are paying enough taxes they will not send you a tax return.
However, is you are self employed, or have other streams of income, or are a company director HMRC will issue you an annual tax return.
If you are already registered to file a Self Assessment tax return HMRC will either send you a letter or email to remind you to complete and file your Self Assessment tax return.
Moreover, HMRC will also send you a letter informing you that you need to file one if they think they need to, but ultimately the responsibility lies with you to know whether you need to file a Self Assessment tax return.
If you have received any income that has not been taxed by HMRC, it is likely that you need to complete one.
HMRC has been known to go back as far as 20 years when they are working cases of negligence or fraudulent activity.
If you are self employed it is your legal obligation to keep records for the last 6 years.
If you are self employed, or are in receipt of income that is being paid to you outside the PAYE system, you will have to complete a Self Assessment tax return.
You will have to complete and return your annual tax return which HMRC will use to calculate the tax that you owe. It is possible to work out your taxes yourself if you want to.
Self Assessment tax is tax that is paid on any or all income that are not already taxed through the PAYE system.
If you are a pensioner and your pension is greater than your personal tax allowance you will also have to complete a Self Assessment tax return.
You may also have to complete a Self Assessment tax return if you are a company director, or are self employed.
If you have underpaid tax HMRC will usually contact you. To pay them you can call 0300 200 3300.
Your letter from HMRC should tell you what account you need to pay it into.You are able to make BACS, Chaps or Faster Payments to pay you tax bill in the UK. If you are unsure which account to pay your tax into, or have not received your tax bill, use HMRC Cumbernauld.
Sort code Account number Account name 08 32 10 12001039 HMRC Cumbernauld 08 32 10 12001020 HMRC Shipley In the event your account is overseas Bank identifier code (BIC) Account number (IBAN) Account name BARCGB22 GB62BARC20114770297690 HMRC Cumbernauld BARCGB22 GB03BARC20114783977692 HMRC Shipley