Self Assessment: Hands on Help
Self Assessment Tax Returns aren’t supposed to be taxing, according to the original TV advert. However HMRC continue to use Accountant Jargon without much explanation of what is meant.
The overall effect is that when most people do ‘self’ assessment, they are not confident enough to claim everything that they’re entitled to claim.
I am registered with HMRC as a Tax Agent and over the years I have completed or assisted with more than 300 self assessments. In almost all cases I have saved my clients much more than I have charged them in fees.
Self Assessment for Individuals ...
The main SA100 Form is a general form that everybody has to complete, but there are additional ‘Supplementary Pages’ that have to be completed depending upon how you earn your income.
For example: SA102 – Employment, SA103 – Self-employment, SA104 Partnerships, SA105 – UK Property.
I provide hands on help to get your Self Assessment Tax Forms completed. This is always done in a way that maximises your earnings, but also keeps you on the right side of HMRC’s regulations.
Self Assessment for Partnerships
If you earn an income as a partner in a partnership you still have to submit an individual SA100 Tax Return. But the Partnership also has to submit a SA800 Partnership Tax Return.
Although the SA800 Partnership Tax Return includes a section on Trading and Professional Income, this is for businesses who trade as a partnership, i.e. they buy and sell goods, or provide services.
But you may also need to complete supplementary pages; SA801 – UK Property, if you are part of a partnership that earns income from property, SA802 – Foreign, if you earn income from abroad, and SA804 – for income from Saving & Investments.
If you’re interested in finding out more about tax and accounting, please see the articles on my Clients Page …