Need help with your tax return?
Filing a Self-Assessment Tax Return can feel daunting. Deadlines, rules and complex forms often catch people out, while mistakes can mean fines or overpaying tax.
Besides, life can be frustrating enough without having to grapple with your personal tax return. You’ve got better things to do than wade through paperwork and, unless you’re bang up to date with the latest rules and allowances, you risk missing out on valuable tax breaks you’re entitled to.
So why not make things easy for yourself? With a THP tax return accountant in your corner, tax return worries become a thing of the past. Simply hand over your accounts and paperwork and sit back while we save you time and money, avoid mistakes and save you from unexpected penalties.
Take the weight off your mind. Ask us to take care of your Self-Assessment Tax Return today.
What is a Self-Assessment Tax Return?
A Self-Assessment Tax Return allows you to tell HMRC about personal income that’s not fully taxed at source. For example, you can use it to declare trading profits, rental income, investment income, capital gains and more. You can also use your tax return to claim certain reliefs, such as those on pension contributions or charitable donations. HMRC then bills you for any tax you owe (or gives you a refund if you’ve paid too much). Many people choose to use a specialist tax return accountant because they have detailed knowledge of many legitimate tax reliefs that they aren’t aware of – often helping to save them significant amounts of money.
Why choose THP as your tax return accountant?
There are lots of good reasons to choose THP as your tax return accountant. Here are just six of them.
- You won’t pay more tax than you have to. Unlike one-size-fits-all tax return services, we really work hard to make sure you don’t pay more tax than you need. Your personal tax return accountant will advise you on all the allowances and reliefs you can claim, aiming to keep your tax bill as low as possible.
- You can plan for the future. If your accountant sees opportunities to save tax in future years, they’ll tell you.
- You reduce the risk of expensive mistakes. Because your tax return accountant stays up to date with tax law changes, it reduces the risk of mistakes. This can help you avoid fines, penalties or even tax investigations.
- You save time and stress. People who do their own tax return dread the time of year when it’s due. Instead of stressing about it for months, your accountant can do it for you – accurately and quickly – giving you valuable peace of mind.
- Never miss a deadline. As long as you give your accountant the information they need in good time, we will make sure you never miss tax return submission deadlines.
- It doesn’t matter where you live. Although our branches are in London, Essex and Surrey, we take care of tax returns for people across the UK. Thanks to top-class online systems, we can help anyone with an internet connection.
Who is required to file a tax return?
If you need to know whether you need to file a tax return, take a look at our handy blog post: Do I need to submit a tax return?
In summary, most people who need to complete a Self-Assessment Tax Return fall into the following categories:
- Self-employed people (e.g., sole traders / freelancers).
If you earn more than £1,000 from self-employment per year, you need to register for Self-Assessment. (Note, HMRC plans to raise this limit to £3,000 some time by the end of 2029. From then, people earning between £1,000 and £3,000 will declare this income through a ‘new simple online service’) - Company Directors / Shareholders.
If you receive dividends or income that’s not taxed via PAYE, then you’ll need to complete a personal tax return. - Partners (in a business partnership).
Each partner should report their share of partnership profits on their own tax return. - Landlords.
If you a landlord, property income over £2,500 (after allowable expenses) must be declared on a tax return. (If you earn between £1,000 and £2,500, contact HMRC to learn how to declare this). - Other people who need to complete a tax return.
These include people who pay the High-Income Child Benefit Charge or who had to pay Capital Gains Tax. You may also need to complete a return if you have foreign income, tips or commissions, or income from savings, dividends or investments.
If you are still unsure whether you need to file a Self-Assessment Tax Return, use this helpful tool from HMRC.
Who will be my tax return accountant?
We have an excellent team of tax return accountants with experience in a very wide range of industries. We will always allocate you a named accountant who will be your point of contact from start to finish. If you believe you need a tax return accountant with specific experience, talk to us and we’ll do what we can to accommodate your needs.
Do you outsource your tax return service?
No: all returns are prepared by our own qualified UK accountants. In complex cases, we consult our in-house tax specialists to ensure you get the best possible result.
What records will my accountant need for my tax return?
Your accountant will advise you on the records they’ll need to complete your tax return. Normally, they’ll need access to your accounting software, plus digital or paper records that record business income, dividends, bank transactions, pension contributions, charitable donations, savings income and more. But don’t worry, they’ll tell you what they need and will make the process as quick and simple for you as they can.
How quickly can you do my tax return?
We will always do your tax return as quickly as possible. However, we strongly recommend you ask us to do it well before the submission deadline of 31st January. By doing so, you’ll give us ample time to explore ways of saving you tax while making sure we meet the deadline. If you need your tax return done urgently, phone us now to discuss your needs.
Is your tax return service MTD compliant?
Making Tax Digital is HMRC’s initiative to require most taxpayers to keep digital records and file quarterly updates using approved software. It is gradually being rolled out for Income Tax, starting with landlords and the self-employed with higher income. You can find out more about in our Guide to Making Tax Digital.
Do I need to use specific accounting software?
Yes, you’ll need to use MTD-compliant cloud accounting software. One additional benefit to this is that it makes it easier for your tax return accountant to work on your accounts. If you don’t currently have MTD-compliant software, we can help you choose packages such as FreeAgent for the self-employed or Hammock for landlords.
Can software assist with a Self-Assessment Tax Return?
Cloud accounting software makes data entry and tracking easier, but it cannot interpret tax rules, advise on reliefs or structure your income. That’s one way in which THP’s expertise adds value and can save you money.
Tax return accountant vs doing it myself
If you’re wondering whether it’s best to use an accountant or use a tax return accountant, the answer really depends on your circumstances.
Do you need an accountant to do tax returns?
Legally no. Many people file their own returns, especially if their situation is simple. But where multiple income sources, reliefs or business activities are involved, the knowledge of an accountant can easily save more money than it costs.
Is it worth getting an accountant to do your tax?
Yes – for most business owners, landlords and directors. A THP tax return accountant will not only ensure your return is accurate, but will also provide advice that can reduce your tax bill year after year. Clients often tell us our service saves them far more than our fees.
Can you help with other types of tax return?
Absolutely. As a well-regarded accountancy firm with a range of experts working across four branches, we can help with all types of tax return – including the following:
If you’d like advice on any of these tax return services, please get in touch today.
I want to switch from another accountant. How do I do it?
It’s really easy to switch to THP from another accountant and we’d be delighted to welcome you as a client. If you’d like any advice on how to make the move, please get in touch. We’d be very happy to advise you.
Meet the THP Tax Return Accountant Team
Karen Jones
Tax Manager TEP ATT
Having worked for one of the world’s largest accountancy firms, Karen uses her tax knowledge and skills to help clients obtain substantial reductions to their tax liabilities. With an expanding portfolio of clients, she frequently faces a variety of challenges and relishes the experience she gains as she solves them and helps people to save money.
Debbie West
FMAAT – Client Manager
Debbie takes a tailored approach to working with businesses and often deals with clients looking for tax planning advice. To do this, she likes to gain a thorough understanding of what clients do and provide a tailored service. “How I help clients depends on their aims. It could be tax efficient remuneration planning, making full use of expense claims, pension contributions, or something else,” she explains.
Kate Brasser
FCCA – Client Director
Kate has a deep understanding of owner-managed businesses, from sole traders to larger organisations. She also has significant experience in supporting clients, helping them to plan for the future and thrive – skills which she brings to her audit work. Kate explains: “No two businesses are exactly the same and I enjoy helping to meet their individual needs. It’s satisfying when you’ve pulled a lot of complex information together and provided your client with a service that exceeds their expectations.”
Kirsty Demeza
FCA – Client Director
With a portfolio that ranges from startups to companies with a £10 million turnover, Kirsty’s talent for working closely with her clients ensures her services remain in strong demand. “When you help a new business and watch it expand into new premises and secure big contracts, it’s a great feeling,” she says. As well as providing accounting services for business that range from tax planning to Self-Assessment Tax Return services, Kirsty’s also closely involved in helping our trainees to develop their skills.
Tax return FAQs
We do our very best to make sure you don’t pay more tax than necessary. Our accountants work hard to identify any tax allowances and savings that you qualify for. However, for the greatest long-term savings, we recommend you take advantage of our tax planning service. Our tax specialists can help you plan ahead and advise you on how to make your financial affairs more tax-efficient.
Yes, accountancy fees are allowable business expenses.
Not always. It is your responsibility to check. Many people are caught out by this, which is one reason why professional advice is valuable.
It can soon get very expensive, so let us make sure it isn’t late! See our blog post, Late Self-Assessment: Beware the tax return ‘super penalty’.
It depends on the complexity of your affairs. Unlike cheap and impersonal tax return services, we work very hard to save you money and keep your tax bills to a minimum. We are transparent about our pricing, will tell you in advance how much you’ll pay, and we’ll do all we can to deliver exceptional value. If you’d like to see testimonials from delighted clients, please ask us.
Tax Returns News
Want to learn more about Tax Returns? If so, please browse our blog articles.
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Self Assessment tax return – are you required to complete one?
IHT forms: which ones could help you claim back thousands?
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