The UK has one of the world’s most complex tax systems. In 1996/97 Self Assessment was introduced to help ease the burden for unincorporated businesses. If anything, it has actually added to their burden.
We can help to relieve you of this by preparing your annual Self Assessment Tax Return.
HMRC have introduced severe penalties for Tax Return errors and late submissions, even if you don’t have a tax liability to pay. They can quickly rise to in excess of £1,200 shortly after the 31 January filing deadline each year.
Self Assessment is the way you calculate the personal tax you are due to pay HMRC and it requires that you fill in a Self Assessment Tax Return every year.
Save time, hassle and get complete peace of mind
In order to make sure your Self Assessment Tax Return is prepared accurately and on time we strongly suggest that you talk to a taxation expert. You will save time and knowing that your Self Assessment Tax Return will be completed accurately and in plenty of time gives you complete peace of mind that you won’t be receiving any penalties from HMRC.
In addition to reducing the chance of HMRC penalties we can also save you money by advising you of any expenses and allowances that you are eligible for.
We’ll deal directly with your bank, building society or stockbroker to get the appropriate information for you. We’ll calculate any tax liability you may have, file the return and inform you go what you have to do regarding payment. We’ll also advise you of any ways you could reduce the tax you have to pay and would represent you should you be selected for investigation by HMRC.
Our Self Assessment Tax Return service is very affordable too and is available from just £95 plus VAT.
Who needs to complete a Self Assessment Tax Return?
If you are self employed, a company Director, Trustee or a member of a Partnership you’ll need to complete a text return.
If you receive income from property as well as other taxable income, a foreign income or you are a high rate tax payer who receives taxable income other than that from your PAYE employment income you’ll need to complete a text return.
If you receive your only income from savings, investments or property that’s above certain threshholds, your income is above £100,000 or you have Capital Gains Tax to pay you’ll need to complete a text return.
We are also able to prepare capital gains tax computations and inheritance tax computations for you. In some cases people expecting to get capital gains tax bills for selling a second home are grateful when we advise they have little or no liability.
A key service we offer to clients is in the area of taxation planning, aimed at minimising your future tax liabilities.
Personal Tax Planning
At Callan we offer a comprehensive range of Personal Tax Planning services for those who need help and advice on optimising their tax positions and ensuring that they are compliant for issues such as:
• Income and Capital Gains tax
• Inheritance tax
• Non-domicilary taxes
• Trusts and estates
• Inheritance tax planning
The tax regime is becoming more and more complex and you may well find that engaging an expert on personal tax is not only easier but is also a very cost-effective move.
Callan offer year-round tax advice so you’ll always know that you are 100% tax compliant. Our service is very affordable too.
Call us on 0845 050 7613 to find out how we could help you.