SA Tax Returns

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SA Tax Returns in Essex

Every self-employed person knows the rigmarole involved in completing self-assessment tax returns. Even if you’ve completed one ten times before, there are still questions that jump out and confuse, and there’s always the lingering feeling that you could have done things differently and paid less tax in the process.

However, there is an easier way to do things. At MCL, we’re here to complete your self-assessment tax return, leaving you free to concentrate on other aspects of your business. What’s more, we’ll do it for a price you can afford – in fact, we’ll regularly save you more in taxes than you spend on getting the return completed!

If you’re interested in having your self-assessment completed by the experts at MCL, why not call or email us today?

A self-assessment tax return is something every self-employed person in the UK must complete as well as anyone who received income from sources whereby tax is not deducted at source for example landlords receiving rental income, Individuals receiving dividend income, individuals earning more than £100k per annum as well as anyone with Capital gains to declare on sale of property or shares.  

It is used by HMRC to determine how much money a taxpayer needs to pay each year. The tax return contains information on all financial aspects of a business, but in short, it looks at how much is earned, how much is spent, and what the overall amount of money earned by the individual is.

A self-assessment tax return can be filed on paper, and those looking to do it this way must submit it by midnight on 31st October. However, most choose to file their tax return online, and the deadline for this is midnight on 31st January. The deadline to pay any tax owed, regardless of the way you submit your tax return, is also midnight on 31st January.

What is a Self-Assessment Tax Return?

Why Use MCL for Your SA Tax Return in Essex?

As we’ve already discussed, filling out a self-assessment tax return can be complex. This means two things: it will take you a while to complete, and you could make significant mistakes. By working with us at MCL, you can eliminate both these problems.

Why spend hours of your day compiling your tax return? Instead, you could be earning money by working on something different. We know that time is the most important resource for any self-employed worker and letting us complete your tax return gives you many valuable hours back.

For the uninitiated, SA tax returns can not only be time-consuming but confusing too, as they ask for information on some seemingly obscure subjects. Filling in a tax return incorrectly can lead to you paying too much tax, or even worse, can lead to prosecution. This is why many choose to employ the services of a professional, ensuring their SA tax return is completed accurately.

At MCL, we have completed many tax returns and we know exactly what is needed to minimise your tax liability while still complying with all rules and regulations. What’s more, you’ll find our rates to be more than reasonable.

You could also combine our SA tax return service with other services, such as our bookkeeping service, to ensure your finances are kept in perfect order.

So, regardless of your business or turnover, why not contact us today to find out more? You can call us using one of the numbers listed at the top of this page, or alternatively email us via the contact form. We look forward to hearing from you soon!

Let MCL Complete Your SA Tax Return

SA Tax Returns FAQs

Have you got a question about how we handle your self-assessment tax return? Or perhaps you’ve got a more general question about tax returns? If so, take a look through our FAQs below, which answer some of the more common questions.

You must file a self-assessment tax return if you are a sole trader and earned over £1,000 in the previous tax year, which runs from April 6th to April 5th. You must also file a tax return if you’re a partner in a business. Before being able to file a return, you must register for self-assessment. Once registered, you will remain so indefinitely, so won’t need to register again to file your next return.

Yes, you can complete your own self-assessment tax return. Those doing so often think that it saves them money, but this is usually not the case. The time it takes to complete the tax return can often be better spent doing something else in your business, plus a competent accountant will be able to ensure you pay the correct tax, and not a penny more.

If you file your tax return late or fail to pay on time, you will receive a £100 fine. If you haven’t filed by three months after the deadline, you pay a fine of £10 per day. The fines get even steeper if you’ve not filed by six months after the deadline. If you’ve not paid by 30 days after the deadline, a fine of 5% of your tax is added. As with late filing, the fine increases if you don’t pay by six months after the deadline. You can help ensure you’re not late by working with MCL, as we’ll remind you of all deadlines.

Our prices are tailored towards your specific business. We do this to ensure each and every potential client receives a fair deal. If you’d like to receive a quote for completing your self-assessment tax return, please don’t hesitate to contact us today.

We cover a wide area, but the majority of our clients come from in and around Southend-on-Sea, Essex. However, we also accept clients from Basildon, Chelmsford, Grays, Colchester and Maldon, as well as those in London.

Get in touch if you need further advice, have any questions about our self-assessment tax return service or would like a FREE consultation

MCL Chartered Accountants