Tax is deducted automatically from wages and pensions but if you have any of the following income you must report it in your self assessment tax return;
- Money from renting out a property
- Tips and commissions
- Income from savings, investments and dividends
- Foreign income
You must send a self assessment tax return if you were self employed as a ‘sole-trader’ and earned more than £1,000 or if you were a partner in a business partnership.
We can spare you the headache of self assessment with our comprehensive service, including;
- Provide you with a list of what needs to be included in your tax return
- Calculate your tax liability
- File your tax return with the HMRC
- Advise you when tax payments are due
- Give you tips and ideas on how to save tax
- Deal with any queries and investigations raised by the HMRC