Self Assessment
You are required to complete a self assessment tax return if you are self-employed, in a partnership, are a director of a company or if you have income from other sources such as rents. If you have relatively straightforward tax affairs and are paying tax through Pay As You Earn (PAYE) you probably will not need to complete a return, but if you have complicated tax affairs you may need to complete one. Certain changes in circumstances, such as selling a second property or shares, may mean you need to complete a return.
If you are unsure whether or not you should be completing one please call 01923 224411 or email Priya Raja-Motala.
There are strict penalties for not informing HM Revenue & Customs of new sources of income. See the sections on Sole Traders and Partnerships & LLPs.
Many taxpayers struggle to understand the complex tax returns and to complete self assessment forms correctly. The constant stream of changes to tax legislation means not only that the tax returns are becoming even more difficult to understand, but taxpayers risk incurring more penalties through failing to complete their self assessment returns on time or correctly.
At Turnbull Associates* we can save you a lot of time, worry and money by handling your self assessment for you. We do all the necessary computations, complete your return and can offer advice on how you can minimise your tax liability. Turnbull Associates can act as your agent, dealing directly with HM Revenue & Customs on your behalf, and should you be selected for a self assessment enquiry, act for you at any meetings.
We will meet with you for a FREE initial consultation and give you a fixed-fee quote in advance so that there are no surprises at the end.
Please call 01923 224411 or email Priya Raja-Motala to arrange your consultation.
Personal tax planning
With the tax regime becoming more complex, and more emphasis being put on taxpayer’s individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements.
At Turnbull Associates we have tax specialists providing you with year-round advice on:
- Income tax planning
- Capital gains tax
- Inheritance tax, trusts and estates via Myers Clark (Turnbull Associates is associated to the Myers Clark partnership)
- Conducting self assessment enquiries with the tax inspector
- Personal financial health-checks.
To make sure you take full advantage of the tax saving opportunities open to you, call Turnbull Associates on 01923 224411 or email Priya Raja-Motala for a personal tax planning review.
* Turnbull Associates is the trading name of Turnbull Associates Limited.