Many people struggle to manage their tax return results. Many leave it until the last minute and then panic to try to complete it before the deadline dates. Woodford Norman can take away all the worry by competing and submitting the self assessment for you.
We can also help you if you still submit a paper return. We can submit the assessment return electronically by the deadline of 31 January each year.
Can you afford the minimum £100 fine that H M Revenue & Customs have introduced if you file your return late even if there is no tax to pay. That is not the end of it, the fines can increase to as much as £10 per day if left unpaid.
So what is Self Assessment?
If your employer taxes your earnings or pension at source then you will usually not have to complete a tax return. HMRC requires you to complete a tax return if you have complicated tax affairs. The tax return will provide information about your income and capital gains, and allow you to claim related tax allowances or tax reliefs.
Usually you will need to complete a tax return if your income has not been taxed as source.
This income can be:
The above list are by no means exhaustive; if in doubt you may need advice.
Call Woodford Norman on 0116 2886689 to find how they can manage your Self Assessment Tax Returns Leicester.