Self Assessment

Self Assessment Tax Return

Self Assessment is an individual's taxation return. It must be completed by all self employed (i.e sole trader, partnerships) company directors and 40% tax payers. It is your responsibility to inform the inland revenue if you owe tax. Failure can lead to fines, penalties and interest.

A Standard Self Assessment form is 10 to 20 pages or more. Attempting to complete it with inadequate experience can lead to costly mistakes, extra tax liabilty, refusal of claim allowances, and even the possibility of investigation.

The form will include, all income from interest, share dividends, trade income under PAYE. The Self Assessment + Service includes your basic plus trade profit calculation and would be both calculated and incorporated into the tax return. This cannot be done by an amateur.