Self Assessment tax returns

The Business Bookkeeper completes your Self Assessment return making sure that all expenses are correctly allocated to reduce the amount of income tax and National Insurance you pay.

Your annual Self Assessment tax return taken care off

All self-employed people must complete a Self Assessment form (unless your income is less than £1,000). What’s on your form is a report of how much you’ve earned in the previous financial year and how much tax you must pay on those earnings.

Your Self Assessment form tells HMRC how much you owe them across a variety of different personal taxes mainly income tax, National Insurance, and, for directors of limited companies, dividend tax.

When you work with the Business Bookkeeper, we’ll complete your Self Assessment form for you making sure that we claim on every allowable expense to reduce the amount of tax you have to pay.

Don’t have a bookkeeper or accountant at the moment for your Self Assessment?

If you currently don’t have a bookkeeper or an accountant and you’d like professional help to complete your Self Assessment form, talk to the Business Bookkeeper.

We’ll correctly input and file all of your financial records for this financial year onto one of the leading online accounting platforms – Xero. Whether the Self Assessment deadline is approaching or you simply want to get your books into order, we’ll do it for you.

We work with many self-employed people, partners, and limited companies making sure that their financial records are always up to date through the year. When you work with us, you’ll have much more time to spend on your business as we take away the paperwork and the calculations from you. Better still, you’ll always know how well your business is performing with access to monthly management reports, key performance indicator charts, and more.

For a quote on your Self Assessment, please get in touch. When you speak with us, let us know more about you and your business and we’ll quote you for a fixed-fee bookkeeping package for your business.

We’d appreciate the opportunity to find out more about you and your business. To find out how we can help you, please call us on 020 3137 6565 or email us.

Frequently Asked Questions

Self Assessment

Self Assessment is the method by which you report your annual earnings so that you pay the correct level of income tax, National Insurance, capital gains tax, and dividend tax. 

You can register for Self Assessment at this government website using this link.

You need to register for Self Assessment with HMRC by 5th October for the current tax year (6 April to 5 April). You will be fined if you’re late in registering except for if you complete a Self Assessment in time for that tax year following late registration.

You pay your Self Assessment tax in two tranches during the year – 31st January and 31st July using the payment on account system. There is an option to pay by monthly instalments and HMRC may be able to help you if you can’t pay on time however you have to notify them in advance of the next payment date.

Paying Self Assessment is easy – you can pay the taxes due as reported on your Self Assessment form by direct debit, bank transfer (BACS or CHAPS), debit card, corporate credit card, by cheque, or at your bank or building society.

If you wish to deregister for Self Assessment, you can do so using this online government form.