Tax Returns Peterborough

Tax season doesn’t have to be stressful. Book a free, no-obligation consultation with Thobani Accountants or call us on 07842 507362 to learn how we make managing your financial affairs simple and hassle-free. Our team of licenced and qualified Peterborough accountants consists of Certified Public Accountants (CPAs), approved HMRC agents and accredited Quickbooks users who have over 25 years of experience submitting accurate Self Assessment Tax Returns. Call us today to see why we’re Peterborough’s trusted accountants and get a service quote within five minutes of sitting down with us.

Self Assessment Tax Returns

As you know, the UK tax year begins on April 6 and ends on April 5. If you’re paid by an employer, you’ve already seen the tax you owe the government deducted from your monthly pay. Preparing a Self Assessment isn’t further required of you, but if you fall under any of the following categories, then you’ll need to submit an accurate Self Assessment Tax Return to HM Revenue & Customs (HMRC).

• Sole Trader
• Partnership
• Limited Company

It’s important to note that you may have to file a Self Assessment Tax Return if you collect additional income from:

• Renting out a property
• Tips
• Commission
• Savings
• Investments
• Dividends
• Trusts or Settlements
• Foreign Income

You’ll also need to file a Self Assessment Tax Return should you want to claim:

• Income Tax reliefs
• Tax-Free Childcare
• Maternity Allowance

Check to see if you need to submit a Self Assessment Tax Return here.

What Do I Need to Declare on a Self Assessment Tax Return?

Your Self Assessment Tax Return must state your taxable income, capital gains and any tax allowances or reliefs you qualified for under law.

If you didn’t submit a tax return last year and need to this year, you must register with HMRC. The registration process differs for sole traders and partnerships, so please register using the correct form below:

• Sole Traders
• Partnerships

Important Tax Return Dates

To avoid penalties and late fees from HMRC, you must submit your Self Assessment Tax Return by the following dates:

• If submitting a paper tax return – Midnight on October 31
• If submitting an online tax return – Midnight on January 3