When is the Self Assessment deadline?
Online returns are due by 31 January following the end of the tax year, with any balancing payment due the same day. A second payment on account is usually due by 31 July.
We prepare and submit Self Assessment tax returns for individuals, sole traders, company directors, landlords and other taxpayers. We make sure the correct income and allowable expenses are included, calculate your tax liability and help you understand what needs to be paid and when. Where possible, we also identify legitimate ways to improve your tax position and plan more effectively for the future.
For directors, landlords, sole traders and anyone with income that does not come through PAYE alone.
Salary, dividends and benefits brought together correctly.
Rental income with finance costs treated the way HMRC expects.
Returns prepared from proper accounts, not a spreadsheet guess.
The July and January schedule explained and reduced where justified.
A Self Assessment return has to capture every source of income for the year, not just the obvious one. Dividends, rental income, savings interest, capital gains and side income all belong on it.
We work through the full picture, apply the allowances you are entitled to, and tell you the number before the deadline rather than on it.
The part that catches people out is rarely the balancing payment. It is the payments on account for the following year, which can arrive at the same time and effectively make the January bill much larger than expected.
We show you the full schedule as soon as the return is prepared, so it can be planned for.
A short call about how self assessment is handled today and what is causing friction.
Records, deadlines and handover organised, including professional clearance from your current accountant if you are switching.
Work finished ahead of deadlines, figures explained in plain English, and one specialist who answers.
Online returns are due by 31 January following the end of the tax year, with any balancing payment due the same day. A second payment on account is usually due by 31 July.
Not automatically, but most do because of dividend income or because HMRC has issued a notice to file. If you have been asked to file, the obligation stands until HMRC withdraws it.
Allowable costs generally include letting agent fees, repairs, insurance and certain professional fees. Finance costs such as mortgage interest are handled through a basic-rate tax reduction rather than as an expense.
Speak to our Harrow accountants today. Tell us how self assessment works in your business now, and we will tell you how we would run it.