Self Assessment is how HMRC collects tax that is not taken at source. If you are self-employed, a landlord, a company director or have other untaxed income, you most likely need to file a return each year. We make sure yours is right, submitted on time and claiming every allowable expense and relief.
Who has to file a Self Assessment tax return?
You generally need to complete a return if, during the tax year, you were self-employed as a sole trader earning above the trading allowance, a partner in a business, a landlord with rental income, or you received other untaxed income such as significant dividends, savings interest or foreign income. Higher earners and those repaying the High Income Child Benefit Charge may also need to file.
If you are not sure whether this applies to you, we can check your circumstances. Getting it right matters, because you usually have to register for Self Assessment by 5 October following the end of the tax year in which the tax became due.
Self Assessment deadlines you need to know
Self Assessment runs to a fixed timetable. The key dates for each tax year are:
- 5 October, Deadline to register for Self Assessment if you are filing for the first time.
- 31 October, Deadline for a paper return.
- 31 January, Deadline to file online and to pay the tax you owe for the year.
- 31 January & 31 July, Payments on account, where they apply, fall due on these two dates.
How do payments on account work?
Many people are caught out the first time by payments on account. These are advance payments towards next year's bill, usually split into two instalments due on 31 January and 31 July. In your first year of liability it can mean paying around one and a half years' tax at once, which is a nasty shock if you are not expecting it. We explain exactly what you will owe and when, well ahead of time, so you can set the money aside.
What's included in our service
Income and expenses
Every income source captured and all your allowable expenses claimed in full.
Property income
Rental income, allowable costs and finance-cost treatment for landlords.
Reliefs and allowances
Pension, gift aid and other reliefs applied wherever you qualify.
Tax calculation
A clear figure for what you owe and when it is due.
Accurate filing
Your return checked and submitted to HMRC before the deadline.
HMRC correspondence
We can deal with HMRC's queries on the return for you.
Claiming the right expenses
Overpaying tax usually comes down to missed expenses, which is why accurate bookkeeping through the year matters. Depending on your situation, those costs can include use of home, travel, equipment, professional fees and a share of your running costs. We know what is allowable and what is not, so you claim everything you are entitled to without straying into territory that invites a challenge. Where we also prepare your year-end accounts, the figures join up cleanly.
How we handle your return
Gather your information
We give you a simple checklist so nothing is missed, then chase only what we still need.
Prepare and review
We draft your return, apply every relief and show you the tax due before anything is filed.
File and remind
We submit to HMRC once you approve it, and remind you of payment dates so you are never caught out.
Self Assessment help across Newcastle
We prepare returns for sole traders, company directors, landlords and individuals across Newcastle, Gateshead, Sunderland and the wider North East. If your affairs are more involved, our tax planning service looks beyond the return to keep your overall position efficient. Digital record keeping is changing too, our Making Tax Digital page explains what is on the way.