Self Assessments - if you need to complete one
we can help!
That time of year again is rapidly approaching when
Self-Assessments become due to HMRC. The deadlines for
completing them are 31st October 2011 if you complete a
paper return or 31st January 2012 if you are registered
for online submission. These deadlines apply for the previous tax
year ending on 5th April 2011 (2010/11).
Now the chances are that many of our contractors won't have to
complete a Self Assessment. Just because you use the umbrella
company doesn't automatically make you have to complete a Self
Assessment. This is because you already pay tax through the
PAYE system.
Where you may have to complete a tax return is if you receive
income from other sources such as:
- From savings and investments (£10k untaxed or £2.5k taxed
income)
- Income from property (£10k before expenses or £2.5k after
expenses)
- Any income from trusts or settlements
- Or if your total income exceeds £100,000 per annum
Certain people will always have to complete a Self Assessment,
for example if you are:
- Registered as Self Employed/Sole Trader
- Operating under the CIS Scheme (Construction Industry
Scheme)
- A Company Director
If you fall into one of the above categories, then you should
have received a letter from HMRC by now. If you have and you
are looking at that brown envelope with a mixture of dread and
confusion, we are on hand to help!
Late or incorrect Self Assessments can incur automatic penalty
fines from the taxman - so it is always better to act sooner rather
than later. The process can also be laborious and eat into valuable
time better spent elsewhere.
Nasa has over 25 years combined experience in contractor
accounting and has done more Self Assessments than we care to
remember! For a flat fee of £100 + VAT, we can complete your
Self Assessment for you and submit it to HMRC in plenty of time for
the deadline(s).
Our expert knowledge and experience will ensure you suffer no
headaches prior, during or after submission date. And a
correctly done self-assessment will ensure that you will be paid
reimbursed any overpaid tax you may be due.
To discover more about this service please call our friendly
team on 0117 929 7683 or email info@nasaconsulting.com
with the subject 'Self Assessment'