Self assessment tax returns are required by HM Revenue and Customs (HMRC) for individuals who have income that is not taxed at source, such as rental income or self-employment income. You may also need to submit a self assessment tax return if you have any income from savings, investments or dividends, overseas income, or capital gains from selling assets. You may also need to submit a tax return if you have claimed certain tax allowances or reliefs.
Submitting a self-assessment tax return can be a daunting process, which is why it is important to use the support of an accountant. An accountant can provide expert advice on tax laws and regulations, ensure that your tax return is accurate and compliant with all the rules, and identify any tax reliefs or allowances that you may be eligible for. They can also save you time and reduce your stress by preparing and submitting the return on your behalf.
Here at Bracey’s, we have a team of experienced accountants who specialise in helping individuals with their self-assessment tax returns. We can provide ongoing support throughout the year, helping you to manage your finances, prepare for future tax liabilities, and plan for the future. Contact us today to find out how we can help you with your self-assessment tax return.
How we help with your Self Assessment Tax Return
Initial consultation
Review and analysis
Preparation and submission of the tax return
Ongoing support and advice
Initial Consultation
First, we’ll schedule an initial consultation to discuss your financial situation. During this meeting, we’ll gather information about your sources of income, expenses, and any other relevant details. We can also review your previous tax returns to identify any potential issues or areas of concern.
Review and analysis
After gathering all the relevant information, we’ll review and analyse it to identify any areas where you may be able to reduce your tax liability. Also making sure that you have claimed all the tax allowances and reliefs to which you are entitled.
Preparation and submission of the tax return
Once the review and analysis are complete, we’ll prepare and submit the self-assessment tax return on your behalf. Our process ensures that all the required information is included, the calculations are accurate, and the tax return is submitted before the deadline, provided we have everything we need from you.
Ongoing Support and advice
After submitting the tax return, we’ll continue to provide ongoing support and advice to you. This may include monitoring your tax liability throughout the year, providing guidance on financial planning and tax-saving strategies, and answering any questions you may have about your tax situation.
Work with us
Jonathan Allwood
Tax Manager
At Braceys Accountants, we understand that every individual’s circumstances and wishes are different. That’s why we offer personalised and high-quality service to our clients, working closely with them to ensure that they are fully prepared to manage their tax affairs. Our team of personal tax experts, led by Jonathan Allwood, our highly experienced Tax Manager, will be able to talk to you about your personal needs.
Book a preliminary free 30-minute consultation with Jonathan through the link below. Alternatively, you can email jonathan.allwood@braceys-accountants.co.uk or call 01462 413249.
