Self-assessment & company tax returns London

Affordable tax return services in London

Avoid HMRC penalties with our dedicated self-assessment service for sole traders, freelancers and landlords across London and sstartups and company tax return for small and startups businesses. 

Dedicated tax return support for sole traders, freelancers and limited companies.

• Tax registration: registering you with HMRC 

• Income calculation: aggregating all earnings and property revenue

• Expense deduction: claiming all legal expenses and allowances to lower your bill

• Tax bill calculation: telling you exactly how much tax to pay

• Electronic filing: submitting your SA100 and/or CT600 returns ahead of deadlines

• MTD sign up: sign up self-employed individuals or landlords with HMRC 

Individuals who are self-employed with earning exceeding £1,000, serve as a business partner in a partnership or possess untaxed income are required to register and submit a Self Assessment tax return. Other key criteria include receiving over £2,500 in rental income, being subject to the High Income Child Benefit Charge, or earning over £150,000.

The deadline for submitting an online self-assessment tax return is January 31st, right after the tax year ends on 5th April. For the tax year ending on  April 5th, ensure your return is submitted by the following January 31st to avoid penalties and interest. Submitting it after the deadline incurs an initial penalty of £100. After three months, additional daily penalties of £10 accrue, capping at £900. After six months, a further charge of either 5% of the tax due or £300 (whichever is greater) is imposed. If the filing is 12 months late, another 5% or £300 charge, again based on whichever is higher, will appliy. Staying organised and aware of theses deadlines can help you manage your finances efficiently and avoid any late fees.

A limited company is required to prepare and file its corporation tax return to HMRC annually after the company year-end. Filing it even one day late incurs a £200 penalty. After three months, another £200 is added. If six months pass, HMRC will estimate your tax bill & impose a 10% penalty on any unpaid tax. If it is 12 months overdue, an additional 10% penalty on the unpaid tax is applied. Timely filing is crutial to ensure compliance and help avoid escalating penalties that can accrue over time. Keep track of your deadlines to maintain good standing with HMRC.

Don't wait until the last mintue! Contact us today for assistance with your self assessment or corporation tax return registration and submission. The earlier you prepare, the better you will understand your tax obligations, allowing you to set aside the necessary funds for your tax bill. Get ahead of the game and ensure a smooth process!