Affordable tax returns for all
From sole traders to partnerships
Who has to complete a tax return?
If you have income that isn’t taxed through an employer’s pay-as-you-earn (PAYE) scheme then you’ll almost certainly need to complete a tax return. Perhaps you’ve got a side hustle that’s growing into a serious business. Maybe you’re a self-employed specialist for hire. Or you might be running a business as a sole trader or through a partnership. In any of those cases, you’ll need to report additional earnings to HMRC by 31 January each year through the self-assessment tax system. If you’re not sure if you need to pay tax, or want someone to handle the process on your behalf, we can help.
If you’ve acquired one or more additional properties which you’re renting out, you’ll need to report that additional income to HMRC as part of your tax return. Equally, if you’re buying and selling property, you might be liable for stamp duty land tax and capital gains tax respectively. Whether letting is something you do on the side or a core part of how you make a living, we can help keep your tax bill under control and get your return right and in on time.
If your business operates through a formal partnership arrangement you’ll need to report any income and tax due in a partnership tax return. This is distinct from your personal tax return but also different to a company tax return, which only applies to limited companies. We’ll work with your nominated partner to handle the process on behalf of all partners.
If you run any kind of business that isn’t a limited company, you’re probably classified by HMRC as self-employed and will need to complete a tax return. That’s true even if you also have a ‘day job’ working for somebody else. We can help you report your business income efficiently, easily and accurately, paying the tax you owe but, crucially, no more than that.
With investments, pensions, business concerns and property, many of us find ourselves with complicated personal finances before we get too far along in life. If you have multiple sources of taxable income, you’ll need to submit a personal tax return each year. We can handle the practicalities of submitting your return, saving you time, and also identify ways to keep your tax bill down, to save you money.