Personal Tax Returns - HMRC collects income tax automatically from wages, pensions and savings. However, if you have other income then you must report it in the form of a Self-Assessment Tax Return.

Tax Returns and Self-Assessment Service

With all the complex HM Revenue and Customs (HMRC) tax requirements and regulations that exist, it is important that you receive specialist advice so that you complete and return your Personal Self-Assessment Tax Return on-time every time.

S Smith & Co Accountants provides an affordable and specialist accountancy service designed just for you.

Who needs to file a Self-Assessment

You will need to file a tax return if you fall into one of these categories:

• You are self-employed or in a partnership
• You received income from letting land or property
• You have untaxed income or savings
• Your savings or investment income is sizeable
• You made profits from selling assets and need to pay Capital Gains Tax
• You are a company director
• You and your partners’ income was over £50,000 and claimed Child Benefit
• You lived and worked abroad
• You received income from abroad

What happens if I miss a deadline?

Penalties

Not meeting deadlines could cost you dearly in the form of penalties. HMRC will issue an initial penalty of £100 if your tax return is submitted late, you will then continue to incur penalties and they can build up to a substantial amount very fast. Without a specialist accountant, you might not know where to turn.

S Smith & Co Accountants will ensure you never miss a deadline and do not end up in a position with a significant amount of penalties.

To find out how we can help you as an individual, please call S Smith & Co Accountants on Scunthorpe, Epworth & Brigg on Scunthorpe 01724 848343 or email us on accounts@ssmithaccountants.co.uk.