Tax Compliance
Self assessment
Self assessment is likely to apply to you if you are:
- a company director or an individual with more complex affairs
- self employed - both individuals and partnerships
HMRC will send you a tax return to complete, immediately after the tax year has finished. The tax year runs from 6 April to 5 April each year.
Your return must be submitted to HMRC by 30 September following the end of the tax year if you want HMRC to calculate your tax liability for you or by 31 January if you want to calculate your own tax.
If your tax return is submitted after 31 January, you will be liable to an automatic penalty of £100.
Depending on your circumstances, there are two main tax payment dates, which are 31 January and 31 July.
Self assessment can be very complicated and time consuming. We can complete your tax return on your behalf, ensuring that it is complete and accurate, calculate your tax liability and advise you exactly when to make payments and how much to pay. We can also deal with routine correspondence with HM Revenue & Customs on your behalf.
Corporation tax self assessment
The legal responsibility for correctly calculating the corporation tax liability falls on the company. Tax returns must be completed and filed within 12 months of the end of the accounting period. Payment of the corporation tax due however needs to be made prior to this date. For small companies, this is within nine months of the end of the accounting period; large companies must make payments on account in advance of this.
We can help your company to comply with the requirements imposed by CTSA and can prepare the tax return in a timely and efficient manner and calculate the company's tax liability. We can also deal with routine correspondence with HM Revenue & Customs on the Company's behalf.
