Under the self assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. HMRC issue tax returns to all individuals they are aware of who need to complete a return including all those who are self employed or company directors. However it is the individual’s responsibility to complete a Self Assessment tax return (regardless of whether HMRC have issued one) if there is any tax owing which was not fully collected at source; typical examples includes capital gains, property income, dividends and interest.
How we can help
As well as preparing and filing your tax returns we can work with you to reduce your overall tax bill through legitimate tax planning activities including;
- Capital Gains Tax
- Venture Capital Trusts
- Enterprise Investment Schemes
- Entrepreneurs Relief
- Inheritance Tax