Tax returns services

Regardless of whether you run your business as a sole trader or a director of a limited company, you will have to complete an annual tax return to pay what you owe to HMRC. It’s essential that you complete this before the deadline – unless you are comfortable with a hefty financial penalty for a late filing.

Tax returns can cost you a lot of your time, however, which, as a business owner, you sometimes just do not have. Leave your return too late, and you run the risk of making mistakes. If that happens, you might end up paying more in tax than you could have with expert guidance.

As accountants who assist with tax returns, we can help complete yours so you can focus on the areas of your business that need your attention, and get back to what you love doing. We have helped countless businesses with theirs and are ready to help you, too.

Managing your self-assessment

Sole traders have to complete an annual self-assessment tax return, in which they report their business income and expenses, so HMRC can charge the right amount of income tax. Not only that, but you will also have to pay any National Insurance contributions you owe via your self-assessment.

Sole traders are not the only taxpayers who must fill out a self-assessment. If you are a company director or in a partnership, you may also need to file one with HMRC, alongside other important tax returns.

Corporation tax

While you may have to file a self-assessment return as a director, limited companies also have to complete a corporation tax return. In this return, you must include all of your company’s income, gains and losses, as well as any allowable deductions or relief, and other relevant information about your company. Regardless of how you run your business, we have you covered.

Find ways to potentially lower your bills

Filing a tax return is essentially all about paying what you owe to HMRC, but it is also your opportunity to make sure you only pay the tax you need to. Not a penny more.

We will ensure this happens when we complete your return by including all possible expenses and reliefs to reduce your tax liability. The system should not work against you. Where possible, we will make sure it works in your favour.

Get in touch with us if you need to discuss our tax planning services.