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Self Assessment Accountants

Whether you’re self-employed or a company director, you will have to submit a Self Assessment tax return at some point in the year. Tax returns are incredibly important, especially when determining your pension and your income tax bill.

But how exactly do you file a self-assessed tax return, and what are the benefits to hire an accountant to take care of it for you?

Read on to see how the team here at Lumbview Accounts can help save both your time and your finances!

Self Assessment Tax Return – It Can Be Messy

Tax returns, whether that’s self-assessments or VAT related returns, can be incredibly messy. Keeping track of every sale made and the related tax is extremely complicated, but that’s exactly what our accountants specialise in.

We can help ensure every tax return you need to submit is done accurately and on time, so you can avoid surprise fines. You may also be entitled to tax exemptions regarding certain purchases, which we can handle for you!

Why Choose an Accountant for Self Assessment?

Tax return

More Time To Focus On What Matters

Filing tax returns is not only complicated, but it can also be extremely time-consuming. We can help you free up your time, giving you the means to focus your attention on other important facets of your business.

Payroll Accounting and CIS

On-Time Returns

If you want to avoid HMRC fines, you will need to file all your tax returns on time. If you run multiple businesses or are planning to submit a range of tax returns, then figuring out when each one needs submitting can quickly become overwhelming.

We know how stressful this can be to manage effectively, which is why we are determined to guide you through the return process smoothly. You can expect all tax returns to be submitted on time and with 100% accuracy.

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Pay The Right Amount On Taxable Income

Nobody wants to pay more tax than necessary – your records need to be completely accurate to be sure you are paying the right tax. Knowing exactly what needs adjusting and what HM Revenue and Customs is incredibly important.

With years of experience in the accountancy industry, you can be sure we know exactly what to look out for and how to ensure you are paying the right tax. We will not only manage your financial reports, but we will also happily sit down to calculate tax with you and guide you through the process!

Personal tax

Claim Tax Relief

Certain facets of your business, such as uniforms and personal allowance, may be entitled to tax exemptions. However, it can be hard to know exactly whether you are entitled to exemptions on your tax bill and how you can claim them.

Thankfully, our Manchester-based accounts know what to look for and how to ensure you receive the tax exemptions you are entitled to. This can be a great boon to your finances and help ensure you aren’t spending more money than you need to be.

Businessman

Excellent Service

Here at Lumbview Accounts, our goal is to offer a compelling service that our clients want to return to time and time again.

Our friendly team are here to help guide you through any tax returns, providing you with a trusted service that you can rely on!

Self Assessment Accountants Know What Changes Apply To Your Return

When it comes to tax returns and all things HMRC, it is important to maintain consistent accuracy. Even a slight deviation in the numbers can lead to a fine, which any business would want to avoid.

Thanks to years of experience working alongside a range of clients, we can help you keep track of any changes in your tax returns.

Partners doing self assessment form online

What You Need For Your Self Assessment Tax Return

To ensure that your tax return is as accurate as possible, there are particular documents you will need to have at hand. The following are exactly what you need for your tax return:

  • Your national insurance number
  • Your 10-digit Unique Taxpayer Reference
  • Any records relating to self-employment expenses
  • Records relating to any untaxed income, including self-employment income, share interests and any property income

By providing these records to our team of dedicated specialists, we can help make sure that your tax return is processed without a hitch. Avoiding potential fines is incredibly important, so you can be sure that our team will ensure HMRC has everything they need!

Ask About Our Self Assessment Services

We know how important tax returns and assessments can be, which is why it is our goal to help ensure the process is as smooth as it can be. Give our dedicated team a call on 0161 793 9737, or send us a message using the contact form found on our site!

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Frequently asked questions

Self Asessment FAQs

Is it possible to file a Self Assessment myself?

Yes, it is entirely possible to file one yourself. However, if your report is slightly inaccurate, you may be met by hefty fines. Ensuring your assessment is accurate and up-to-date is a task that our team of experts specialises in!

When can I file my tax return for the 2020/2021 period?

From the 6th April 2021 onwards, you will be able to file your tax return. Typically, in the UK, the new tax year begins at the beginning of April. This also included capital gains tax and pension contributions.

Should I be paying for Self Assessment?

This depends on whether you require the help of an accountant or not. If you know exactly how to handle your tax return, you won’t need to pay for one. However, it is highly recommended seeking the aid of a professional accountant, such as ourselves, to ensure you aren’t being overcharged on your taxes!

Why do I need to do a Self Assessment tax return?

If you are a company director or self-employed, you are legally obligated to file a Self Assessment tax return. HMRC requires a self-assessed return to determine how much tax, such as income tax and student loan repayments, you owe.