HMRC sets up the deadline for submission of your Self-Assessment Tax return on 31st of January every year.  If you or your accountant on your behalf misses this deadline then you will be exposed to pay fines for late fillings and chances of opening an expensive investigation by the authorities increases significantly.

At Silver Tree Accountancy when it comes to submission of your tax returns you will benefit from our bespoke service which will include:

• Online filling your returns.
• Making sure you make accurate tax payments.
• Making sure your tax returns are filed on time.

Services we provide and which can be included in our fixed fee package or Individually are as follows:

• We will calculate your personal tax liability from the information you provide to us.
• We will file your online tax returns to HMRC and ensure that it is received by HMRC on time, assuming the above deadlines are met.
• We will liaise with HMRC on your behalf should they require further information.
• We will offer you some tax planning options to reduce tax if they are applicable.
• If you just want us to do your tax return, then Our fees vary between £100 to £300. Also, If you send us the information we require after December for the following year’s tax return , there will be an increased fee of £50.

Information required by us in order to complete tax returns

• Email us if you would like us to do your self-assessment for your previous year if this is not your first year of filing the return.
• Email or send the information we need. Have a look at the detailed questionnaire attached. Complete as much as possible and relevant to you. Provide all the documents requested.
• We will prepare your tax return based on the information you have provided to us. We will send you the completed return for your approval. Once you are happy with that we will then go ahead and submit return on line on your behalf.
• Please note, when you pay your self-assessment tax liability, if you have one, then this is a personal cost and should not be paid from your limited company.
• Please let us have copies of your PAYE coding notices for previous year.

Other information

• All directors of the company needs to file a tax return, if you became a director during 06th April12 to 5th April 13 then this is relevant to you.
• You need to prepare a tax return if you have rental income or anything other source of income on which you haven’t paid tax this includes bank interest income.
• There are penalties and interest charges if your self-assessment misses the 31st January deadline which HMRC will impose quite strictly. There is a £100 penalty if the return is 1 day late and there will be another 5% surcharge if the tax is still due 30 days after the 31st January dead line.

HMRC have been brought forward the deadline for paper based Self-Assessment submissions to 31st October. If you file electronically, however, then the deadline remains 31st January.