Self Assessments

Self Assessment – Formally recognised by the UK government as the form SA100 it’s a form of a tax return in the United Kingdom which is applicable to individuals only and their sole trader businesses.

Do I need to fill in the Self Assessment return?

Majority of people will not need to fill in a self assessment return as they will be taxed at source through their employment. (i.e. the tax and National Insurance contributions will be deducted by the employer from each pay and send to HMRC in turn).

When you will need to submit a Self-Assessment return:

  • If you are self employed
  • You are a director of a limited company
  • If you earn over £50,000 and claim child benefit,
  • If you receive any other untaxed income such as high amounts of interest over £500 if you are higher rate tax payer or over £2,000 of dividends or rental income from a property you own
  • If you receive a notification from HMRC advising you to submit Self-Assessment return

However if you have received any amounts that have not been taxed at source you will most likely need to submit the Self-Assessment return.

When do I need to submit the Self Assessment return?

The UK tax year runs from 6th April to 5th April each year. There are two deadlines which are 31st October and 31st January following the year of the return. The first deadline should always be aimed at as HMRC is more forgiving if there is any missing information or errors. The 31st January of the year following the relevant tax year is the final deadline where any mistakes or delays are penalised.

The current penalty for submitting the self-assessment up to three months late is £100 plus interest will be charged by HMRC for all owed tax. If the return is submitted later than three months HMRC will issue further penalties which are going to be higher in value.

Our Self-Assessment package includes:

Preparation and filing of the SA100 form to HMRC

Guarantee of submission before deadline if information provided at least a month prior.

Ongoing yearly reminders prompting you to send us the required information.

As a standard service for all of our clients we review each individual’s finances and offer tax saving advice for free if applicable to their personal circumstances. Most accounting practices will charge you an hourly rate for this service so please contact us at for more information or to sign up and rest assured that you are going to be in good hands.

Cost of this package varies based on income:

Total Income up to £50,000 – £200

Total Income between £50,001 and £100,000 – £250

Total Income over £100,001 – £300

les waydick
les waydick
Needed someone who I felt I could trust, and would give me advice, and not cost me a fortune.
Steve heron
Steve heron
Damian did a great job of advising me on my taxes in a clear and simple way I could understand as well as navigating pension and tax considerations. Very good advice and would highly recommend him.
Damian has provided me with an excellent service at very competitive price. I would wholeheartedly recommend him as he made the stressful experience of submitting accounts and self assessment really easy. Thanks
Anna Olszewska
Anna Olszewska
Fantastic accountant! Being a new business has its own challenges, and having a good accountant can definitely save you a lot of time and headache. Damian is very organised, thorough and prompt. Great communication throughout the process. Amazing service.