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Tax Return services with Linda Carr Accountants
The majority of people hate Self-Assessment Tax Returns – we LOVE them. Let us take the pain and hassle away from you by completing your self-assessment tax return and filing it on your behalf with HM Revenue and Customs.
Whilst preparing your tax return we will also undertake a free review, considering best use of losses and future implications, ensure all allowances are utilised to their maximum and keeping you on the right side of HMRC at the same time. We will always advise you of your liabilities and their due dates and how to pay HM Revenue and Customs.
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Who needs to complete a Tax Return?
You must submit a self assessment tax return to HM Revenue and Customs if, in the last tax year (to 5 April) you meet any of the following criteria:
- You were self employed as a ‘sole trader’ and earned more than £1,000 (before deducting expenses).
- You were a partner in a business partnership
- You earned £100,000 or more
- You have any other untaxed income (e.g. rental income, savings income, dividend income, foreign income etc.)
If you have not done so already, if you are required to submit a tax return to report your income, then you will need to register with HM Revenue and Customs to do so and to obtain your unique tax reference number.
Making Tax Digital (MTD) for income tax
Following the government announcement in December 2022, Making Tax Digital for income tax will be phased in from April 2026 rather than April 2024 as originally planned.
From April 2026, all self employed individuals and landlords with annual income above £50,000 will need to comply with HMRC’s new Making Tax Digital requirements for income tax. This will require keeping digital records and providing quarterly updates of income and expenditure to HMRC through MTD-compatible software. Any individuals and landlords with annual income falling between the £30,000 and £50,000 bracket will need to apply by these rules from April 2027. For those businesses under the £30,000 income threshold, it is still under review as to when this will be rolled out.
Services We Provide
As a sole trader, partnership or limited company we can prepare your accounts from your books and records.
We can provide a digital bookkeeping service (fully HMRC compliant), allowing you to concentrate on the day-to-day running of your business.
Business Start Up Services
We can help you decide on the best way for you to operate your new business and assist you with best practice for keeping accurate records and how to meet all the necessary statutory requirements.
Limited companies have a duty to complete an annual corporation tax return to HMRC. As part of our service to limited companies, we will ensure this is prepared and filed and meets HMRC deadlines.
Payroll processing and CIS returns made simple with the help of our experienced team, handling the process from start to finish.
Our in-house company secretarial services ensure all statutory filing requirements are met. Services include the submission of Confirmation Statements and Limited Company formation.
Most people hate Self-Assessment Tax Returns – we LOVE them. Let us take the pain and hassle way from you by completing your self-assessment tax return and filing it on your behalf with HM Revenue and Customs.