Self-assessment is one of the methods that HMRC deploys to collect income tax. But the process can be confusing and time consuming for individuals and businesses. Unfortunately, if you do not file the returns on time, it can lead to costly penalties. At Hammersmith Chartered Accountants, we understand how complex the process is. So, we endeavour to spare you from the headache.
When you engage us, the first thing we do is to liaise with your bank, stockbroker and building society. They should help us gather the data required for your annual returns filing.Thereafter, we calculate the amount of tax you owe and file returns on your behalf. We also go a step further to advise you when the next payment is due. In some cases, we will advise on what needs to be done in the future to reduce the tax bill.Continue reading