Self-Assessment

Need help with Self assessment in Bury St Edmunds? The UK has one of the largest and most complex tax systems in the world. So, preparing even the most straight forward tax return can be complicated.

Since the introduction of tax returns for the self-employed, the Inland Revenue’s Self-Assessment, hundreds of thousands of individuals have missed the January 31 deadline and incurred a £100 penalty with interest charged on tax that’s owed. Don’t be one of them! If you engage SMART Bookkeeping to complete your tax return (as a self-employed person or individual who has multiple sources of income), we will ensure that all the required records are obtained from you, well before the deadline, to ensure that your Self-Assessment is completed and filed on time – hassle free!

We will sort and compute all your purchase receipts and invoices, reconcile all your transactions and hand back a beautifully organised set of Sole-Trader accounts.

The most common reasons that a tax return may be required are as follows:

  • You are self-employed or a partner in a relationship
  • You are a company Director
  • You have large amounts of savings or investment income
  • You own land or property that is being let
  • Your household receives Child benefit and you have income in excess of £50,000
  • You have income over seas
  • You have sold or given an asset away (such as holiday home or some shares)
  • You’ve lived or worked abroad or aren’t domiciled in the UK

HMRC are not tasked with advising  you on how to organise your affairs and minimise your taxes. Therefore, if you want to ensure you are minimising your tax then make sure you task a professional with exactly that.