Simplifying Your Tax Return
Here at MRM Accountants Ltd, we understand that completing a self-assessment tax return can be a daunting and time-consuming task. Whether you are self-employed, a company director, a landlord, or have additional income outside of PAYE employment, we are on hand to ensure that your tax return is filed accurately and on time, avoiding penalties and unnecessary stress.
What is a Self-Assessment Tax Return
A self-assessment tax return is a system used by HMRC to collect income tax from individuals whose earnings are not taxed at source. It requires individuals to declare their income, claim allowable expenses, and calculate any tax owed for the financial year.
Filing accurately and on time is essential to avoid penalties and ensure compliance with HMRC regulations. Not everyone needs to file a self-assessment tax return, but if you fall into any of the following categories, you are legally required to submit one:
Who Needs to File a Self-Assessment Tax Return?
- Self-employed individuals – Sole traders and freelancers must report their annual income and expenses to HMRC.
- Company directors – If you receive income outside of PAYE, such as dividends, then a tax return is necessary.
- Landlords – Those earning rental income from UK properties must declare their earnings.
- Individuals with additional income – If you earn from investments, savings, overseas income, or side businesses, you must declare it to HMRC.
Our Self-Assessment Service
Our self-assessment service ensures your tax affairs are in order, helping you to meet your obligations, whilst identifying potential tax savings. Don’t leave your self-assessment until the last minute. Let MRM Accountants Ltd handle the process on your behalf by getting in touch!
Filing your self-assessment accurately and on time isn’t optional - it’s a legal requirement for many, and delays can lead to penalties from HMRC.
- Pay the correct tax – Avoid overpayments or HMRC penalties by ensuring accurate calculations.
- Claim allowable expenses – We help reduce your tax liability by identifying deductible costs.
- File on your behalf – We handle the self-assessment process and meet all filing deadlines.
- Strategic tax advice – Receive guidance to make your tax position more efficient.
- HMRC liaison – We deal directly with HMRC to resolve any queries or issues on your behalf.