SELF ASSESSMENT

Self Assessment involves completing an online or paper tax return in order to tell HMRC about your income and capital gains (profits on the sale of certain assets), or to claim tax allowances or reliefs against your tax bill. At Quad Accountancy we specialize in prepairing self assesment returns. We will work out your TAX bill depending on your circumstances and submit it to HMRC on your behalf and any refunds you are entitled for will be paid into your bank account. Refer to our FAQs for more information how to authorise us to act on your behalf.

There are different types of tax return and different 'supplementary pages' you may need to complete depending on your circumstances. There are also deadlines for sending your tax return in - and penalties and interest charges if it arrives late.

We can file most tax returns online - the section 'Benefits of filing online' explains the advantages of this method.

Who needs to complete a Self Assessment tax return?

If you pay tax on your earnings or pensions through PAYE (Pay As You Earn) your employer or pension provider deducts tax on HMRC's behalf and you won't usually need to complete a tax return. In these cases HMRC normally asks them to use the PAYE system to deduct any tax you may owe on a State Pension or other taxable income (eg investment or rental income) up to a certain level.

But if you have more complicated tax affairs you may need to complete a tax return. There are also certain circumstances in which you will always need to complete a tax return - for example if you're self-employed, a company director or a trustee or if you have foreign income.

Asking to complete a Self Assessment tax return

Self Assessment tax returns are normally sent out in April each year (or a notice to fill in a tax return if you file online). If you've not received a return but think you should complete one contact your Tax Office. Your employer or pension provider will have details of this, or you can search online.

You can ask to complete a tax return at any time - for example, if you want to claim a particular tax relief or exemption. HMRC will send you a return if necessary. (You can't send a Self Assessment return without first contacting HMRC).

If you are newly self-employed, HMRC has detailed information available 'Tax returns if you're self-employed or in a partnership' tells you how to register as self-employed - you'll then be sent a Self Assessment tax return if necessary.

Please do not hesitate to contact us if you need any more information regarding the self assessment procedure.