The UK taxation authority HM Revenue and Customs (HMRC) has a special self-assessment system that they use to collect income tax from individuals, including self-employed and company directors. If you are an employee on a payroll, with no other income worldwide (other than in the UK), you don’t need to send a return unless you’ve been told by the HMRC to do it.
If you are considered a UK tax resident in the reporting year, you need to fill in and send your tax return by the established deadline. If you are not sure whether you are resident or not in the UK for taxation purposes, you can determine your residency status by the Statutory Residence Test.
After the end of a tax year which is 5th of April, you have 9 months, i.e. till 31 January next year to fill in and submit your return. The same deadline, 31 January, applies to paying your tax bill; any amount you owe for the preceding tax year (known as a balancing payment) and your first payment on account, if necessary. If you’ve missed your payment date, you can send your return anyway, but you will have to pay interest as well as a fine for late submission and delayed payment. HMRC will calculate the penalties based on how late you are.
You are required to fill in and submit a self-assessment tax return if in the tax year (6 April – 5 April) if you meet any of the following criteria:
It is not so easy to fill in a tax return and it requires certain expertise and time. It is not rare that taxpayers are fined for making mistakes in their returns or missing deadlines. The key things you should be aware of are expenses you can claim, what sections to fill out and which ones not and what information to provide. Another thing is paying your tax bill. Normally you would not have to pay the whole amount due in one go. You would be allowed to pay in instalments under a budget payment plan. However, you might not be allowed to use it if you have not paid your previous tax bill.
We strongly recommend our clients to file self-assessment tax return with the help from our tax specialists. With help from our experts you will save your time, never miss a deadline or pay too much tax. We will support you in the following:
Our specialist can help you with the trickiest details of Self-Assessment, from self-employment to foreign income. We will register you for self-assessment if you have not been before. We will make sure all the sections and supplementary pages relevant to you are filled out correctly. Our target is to safeguard your money while having you comply with all tax laws.
Our tax experts have years of experience in helping clients to file their self-assessment tax returns. Contact us to get individual tax consultation.
Determine your tax status
Worldwide business support
British citizenship by investment
Representative of an Overseas Business visa
Latvia residency by investment
One of our qualified advisors will get back to you today or next business day.
One of our qualified advisors will get back to you today or next business day
Наш специалист ответит вам сегодня или на следующий рабочий день.
Информацию об обработке ваших персональных данных вы можете найти в нашей Политике конфиденциальности.
Наш специалист свяжется с вами сегодня или на следующий рабочий день.
One of our qualified advisors will call you back today or next business day.
Заполните форму ниже для записи на консультацию. Мы перезвоним и подтвердим вашу запись
Please fill the form below to make an appointment. We will contact you back to confirm your consultation.