Services and Information
For a fixed fee of £95.00 we take the stress & headache out of completing & submitting your return by doing it for you. Giving you peace of mind knowing your return has been completed by a tax professional with many years’ experience.
Before Starting
UTR
We cannot submit your tax return without your UTR number. You will find this on the front page of your tax return, on any correspondence from HMRC relating to self -assessment, on your statement of account, or printed on the front of a photo CIS card. If you cannot find your UTR number ring HMRC on 0300 200 3310 & they will send it to you through the post.
Self -Employment
Turnover: Turnover is total income received before deductions such as materials, expenses & tax deducted by contractors. Expenses: If your turnover is below £81,000 you do not need to itemise your expenses we can take the total figure for the year. Don’t worry if you are unsure what you can claim as a legitimate expense our tax professional will go through your expenses with you.
CIS
If you are missing some payment details ask your contractor for the yearly figure. If that is not possible ask your bank for bank statements covering the period 6 April 2017 to 5 April 2018. Providing you have only paid tax at 20% we will work out your gross payments & tax deducted for you.
Employment
If you have been employed at any time during the tax year you will need your P60. If you left before the 5 April you may not have a P60 but you will have a P45. If you received any benefits or expenses you will need your P11D. It would also be helpful if you have your last coding notification for the tax year.
Pensions
If you receive a state pension you will need the figure before the increase in April. Remember the state pension is paid every 4 weeks so if you have the 4 week figure you need to multiply by 13 to get the annual figure. If you are unsure give us the weekly or 4 weekly figure & we will calculate the annual amount for you.
Private pensions you will need your P60 for each pension. If you have had a Trivial Pension payment you will need your P45.
Rental Income
Turnover: Is income received before deductions including letting agents fees or commissions.
Expenses: If your turnover is below £81,000 you do not need to itemise your expenses we can submit your return with just the total expense figure for the year. If you have a loan or outstanding mortgage on the property you need to provide us with the interest charged only. Do not include any part of the capital repayment. Don’t worry if you are unsure how to calculate your turnover or expenses our tax professional will be happy to advise.
Investment Income
ISA’s are non taxable we do not need to know about any interest or dividend payments from your ISA. For taxed UK interest from banks, building societies, unit trusts open-ended investment companies or investment trust companies we only need the net figure paid to you after tax has been deducted. For untaxed UK taxable interest you need to provide the amount paid. For UK dividends from company shares, unit trusts, open-ended investment companies and investment trusts only include the dividend payable after 10% tax has been deducted. If you are unsure what to include our tax professional will be happy to advise.
State Benefits
You only need to supply details of taxable state benefits this includes: Contribution based Job Seekers Allowance, Employment Support Allowance, Bereavement Allowance & Statutory Maternity Pay. Do not include non taxable benefits such as: Income based Job Seekers Allowance, Tax Credits, Winter fuel payments & Council Tax Benefits. If you have received a state benefit & are unsure if it is taxable our tax professionals will be happy to advise.
Child Benefit
For a single claimant If your income was over £50,000 you need to include the total amount of child benefit received for the year. For couples if your income was over £50,000 & your income was higher than your partners you need to include the total amount of child benefit received for the year.
Partnerships
You need to provide the partnership UTR & each individual partners UTR. In addition to turnover & expenses also provide the percentage split between partners of any profit or loss.
Important
We can only put on your tax return information provided by yourself. HMRC will already have details of your employment earnings, pensions including state pension, CIS payments & tax deductions. To avoid HMRC, at some later date, imposing interest & surcharges it is important the information you provide us with is accurate.
