Self
Assessment
Tax Return
Services

Self Assessment Tax Return

A Complete Service

Professional Tax Advice

We don’t just do your personal self-assessment tax returns; our qualified accountants will provide you the necessary advice and guidance on how to minimise your tax liability. We believe in providing a value-add service, not just number crunching.

We make sure that our clients stay on top of their taxes and financial situations so that they can make well-informed business and investment decisions.

Dedicated Accountant

One point of contact based in UK who can speak to you in simple plain English and deal with all your tax affairs. Our goal is to provide exceptional customer service every time. Your personal tax return accountant will respond same day or within 24 hours, provide a proactive value add service. We believe that by building strong relationships with our clients, the experience is much more rewarding.

Self Assesment complete service

After 25 years of running a business I have finally found the ideal accountants. They offer a great service integrated perfectly with the online software. They handle all my compliance efficiently and rapidly respond to my queries.

Fred Warman client profile

Fiddian Warman

Deal with all your tax affairs

As a complete service, we will act as your tax agents to the HMRC, which means that we will deal with HMRC and any other tax matters on your behalf so you can relax and let us take care your tax affairs. We will also ensure we keep to all statutory deadlines so there are surprise penalties.

Our Comprehensive Tax Return Service

Preparation and online submission of your personal tax return, calculating your tax bills and advising you on how much tax to pay and when; completing a personal tax return is not just form filling - we follow a 9-step process in order to complete your personal tax return for you:

  1. Supply you with a Tax Return Checklist to save you time in getting together all the information we will need.
  2. We then use the information and explanations you give us to complete your Personal Tax Return.
  3. We also calculate your personal tax bills and payments on account so that you know exactly how much to pay and when to pay in order to avoid penalties and interest.
  4. With the exception of tax credits, we will advise you on possible claims and elections arising from your Personal Tax Return and from information supplied by you, in order to minimise your personal tax bills. Where you subsequently instruct us, we will make such claims and elections in the form and manner required by HM Revenue & Customs.
  5. Once you have given us your written approval, we will submit your Personal Tax Return return to HM Revenue & Customs.
  6. We will file your Personal Tax Return online - the benefits to you being: You’ll know exactly when HM Revenue & Customs received it, the risk of “human error” processing mistakes by HM Revenue & Customs will be minimised and if you’re entitled to a tax repayment, you’ll receive your refund much quicker.
  7. We will check HM Revenue & Customs’ calculation of your tax bills and initiate repayment claims if you have overpaid.
  8. If you’re entitled to a tax refund, we’ll ask you for your bank account details so that we can transfer any refunds to you electronically – you’ll get your money back from HM Revenue & Customs without the hassle of visiting your bank or waiting for funds to clear.
  9. We’ll deal with all communications relating to your Personal Tax Return that are directly addressed to us by HM Revenue & Customs, or forwarded to us by you.
Our Tax Service

Our Self-Assessment Tax Returns
from just £12.50+vat per month

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What is a self assesment tax return

what is a self-assessment tax return

A self-assessment Tax return also known as “Personal Tax Return” is way for individuals to declare their annual tax on Income received or Gains/profits made on their capital investments.

Some taxes such as PAYE are collected at source, for example; Employees will have their taxes deducted before being paid by the employer and similarly savings income may be taxed by the bank when paying out interest. However, income from other sources like Rental Property, a Sole Trader Business or sale of an asset that increased in value (e.g a Buy-to-let property) will not have been taxed at source, and hence will need to be declared through a Personal Tax Return and any additional taxes paid.

Similarly, a Tax Return may be done to claim any overpaid taxes, e.g. your employer put you on wrong tax code initially and you were overcharged.

Who needs to do a PTR (Personal Tax Return)

You will need to do a Tax return if during the financial year ending 5th April:

  • Self-employed sole traders who are running their own business or service
  • Partner in a partnership
  • Received more than £2,500 in untaxed income (e.g. you received rental income from a property)
  • Investors with dividend income
  • Your savings income or investment income was more than or equal to £10,000 before taxes
  • You realised profits from selling assets such as buy to let Property or shares
  • You received Child benefit when your income was over £50,000
  • You received income from abroad on which you need to pay UK tax on
  • You lived abroad but received income from UK
  • You are a trustee

There may be other reasons also where you may need to do a PTR but in simple you may need to do a personal tax return if either you need to declare additional taxes payable or reclaimable.

Who needs PTR

Notification of Chargeability

If an individual becomes chargeable to income tax or capital gain tax for the first time, he has a duty to notify HMRC within six months of the end of the tax year in which he becomes chargeable.

For example, an individual who received dividend income on tax year 2019/20 has until 5 October 2020 to notify HMRC. In order to file a tax return, you need to be registered for self-assessment and must have a UTR or Unique Tax Identifier number. A self-assessment registration form is submitted for a UTR no. However, it can take up to 6 weeks for a UTR number to be issued by HMRC.

Submission Deadlines

Submission TypeDeadline
Paper 31 October Following Tax Year
3 Months after Notice to File
2 Months if HMRC is to calculate tax
Electronic/Normal Filing 31 January Following Tax Year
3 Months after Notice to File
Taxpayers with simple tax affairs can fill in a short tax return which has no self-assessment

Penalties for late filing
of Tax Return

Late ReturnPenalty
Initial Penalty£100
> 3 Months lateDaily penalties (£10/day, max 90 days)
6 Months late5% of the liability to tax (or £300 if greater)
12 Months lateAdditional 5% of the liability to tax (or £300 if greater)
Increased penalties apply if the withholding of information after 12 months is deliberate or deliberate and concealed.

Payment Dates

Two Payment on account are made on 31 January in and 31 July after the tax year.

These are each 50% of the previous year’s tax due, but only apply to income tax not Capital Gains Tax.
The balancing payment is due on 31 January after the tax year.

Payment on account is not required if:
Tax due for previous year < £1,000, or
80% of tax is collected at source
Payment due in respect of a simple assessment is due on 31 January after the tax year.

LatePenalty
> 30 days late5%
> 5 months after first penaltyAdditional 5%
> 11 Months after first penaltyAdditional 5%
Late payments on account do not attract separate penalties.

Need to do a Tax Return?

Speak to one of our Qualified Tax Advisor to see how we can help?

CTA complete bookkeeping service

Meet Our Senior Partner

Jahan Alsam

Jahan Aslam

Senior Partner

I trained as an auditor with top 20 accounting practices in UK and worked in numerous roles before joining Fusion in 2013.

With over 15 years of experience, my specialisms include assisting SME businesses with business advice and to provide support to achieve growth goals, process standardization and model their business plans.

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