Tax Returns

A tax return is a document submitted to HM Revenue and Customs (HMRC) that reports an individual's or business's income, expenses, and other financial details for a specific tax year. It helps determine the amount of tax owed or refunded.

You may need to file a Self Assessment tax return if any of the following apply:

-You are self-employed or a sole trader earning over £1,000.
-You receive rental income.
-Earn more than £100,000 per year.
-Have foreign income that's taxable in the UK.
-Receive dividends or savings income above your tax-free allowances.

If you're unsure or need help with your tax return, get in touch with us. We're here to make the process simple and stress-free!

If HMRC has informed you to file a tax return or you meet the criteria above, you must submit one. If you’re unsure, check using HMRC’s "Check if you need to send a tax return" tool on the HMRC website.

Pensioners may need to file a tax return if they:

-Receive an income above the tax-free personal allowance (£12,570 for most in 2023/24).

-Have additional sources of untaxed income (e.g., rental income, foreign income, investments)

-Receive a State Pension that exceeds their tax-free allowance and have no tax deducted at source.

At theataccounts, we make the process of completing your tax return simple and stress-free. Here’s how we help:

1. Register for Self Assessment if it’s your first time (we can handle this for you).
2. Gather all your income records – whether from self-employment, employment, dividends, rental income, or other sources.
3. Identify and record all allowable expenses to reduce your tax bill.
4. File your tax return through HMRC’s online system – or let us take care of it for you.
5. Ensure your tax return is submitted accurately and on time.

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We help our clients stay on top of all HMRC deadlines:

• Paper tax returns: Due by 31 October following the end of the tax year.
• Online tax returns: Due by 31 January following the end of the tax year.
• Tax payments:
  
  • First payment: 31 January.
  • Second payment (if required): 31 July.

At Theataccounts, we send timely reminders and manage your filings so you never miss a deadline.

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You can amend a submitted tax return up to 12 months after its original filing deadline. For example, the 2022/23 tax return (due 31 January 2024) can be changed up until 31 January 2025.

Need to correct a past return? We’ve got you covered. Get in touch with the team! 

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At theataccounts, we specialise in helping self-employed individuals, freelancers, and sole traders:

1. Register you as self-employed with HMRC.
2. Keep your income and expense records organised.
3. Prepare and submit your Self Assessment (SA100), including self-employment pages (SA103).
4. Ensure your return is complete and submitted before 31 January.

Let us take the hassle out of your self-employed tax return.