When it comes to self-assessment, there are numerous deadlines and responsibilities a taxpayer must consider. At FSL Accountancy, we help you navigate your way to submitting your tax return successfully. By ensuring we are up to date on legislation and required regulations, we have the right resources to support you in filing your return.
It is likely you will need to file a return if your taxable income is over £100,000, you have savings over the HMRC allowance or you own land or property that is being let. You will also need to file a return if you are a director of a UK company, self employed or operating as a partner of a partnership and if you have income from overseas. For those who live abroad and have a UK income or receive child benefit, and collectively with their partner earn over £50,000, then you will need to file a tax return.
All taxpayers have a legal obligation to notify HMRC of tax chargeability and failure to do so will result in an immediate fine of £100. At FSL, our specialist tax advisors will provide you the unique insight on how to organize your financial affairs and subsequently help minimize your tax. Through our consultation service, we will ensure that you are paying the right amount of tax.