Self-assessment
Workplace pension management
Unsure which expenses to claim or how much tax you owe? Our Self-assessment tax return service helps you file with confidence. No guesswork, no penalties, no missed opportunities.
Self-assessment tax return:
When HMRC wants you to report like a professional
Precision required, expertise optional – having to assess your taxes perfectly right to avoid costly penalties without being an expert just does not sound fair, does it? At the core, Self-assessment tax returns are the art of being accurate through guesswork to many entrepreneurs. What could go wrong?
Many SME directors and sole traders file their return without knowing which income needs to be included, what expenses are allowable, or how to report multiple income streams. Others simply forget to register, miss the filing deadline, or find themselves unsure whether they owe Class 2 or Class 4 National Insurance, or both.
We also frequently help entrepreneurs in the UK who were late to register as self-employed or who accidentally left out client payments from earlier in the year. Moreover, many of them miss opportunities to claim home-office use, mileage, and pension contributions. Or they do not realise they crossed the threshold for payments on account.
Our London Self-Assessment tax return service for SME takes all the weight off your shoulders. We ask the right questions, check for risks and reliefs, and file your return securely with HMRC. Whether you are a sole trader, landlord, freelancer, director, or side-earner, we help you stay compliant and avoid surprises with confidence in every number.
FAQ
Who needs to file a self assessment tax return in the UK?
You need to file a self assessment if you received untaxed income during the tax year. This includes:
- Sole trader or freelance income above £1,000
- Rental income from UK or overseas property
- Dividend income or capital gains
- Foreign income
- Self-employment or side-hustle income
- Director income not taxed through PAYE
- High earners (with earnings above £150,000)
- People with Child Benefit who earn over £50,000 (High Income Child Benefit Charge)
If you are unsure whether you need to file, we can review your income streams and advise whether registration is required as part of our London Self Assessment tax return services.
What income do I need to include in my self assessment?
HMRC requires you to declare all income not already taxed at source. Such as:
- Profit from self-employment
- Income from property letting
- Interest and dividends from UK or overseas accounts
- Foreign income, pensions, or gains
- Income from trusts or partnerships
- Crypto gains
You also need to report any other income where tax was not fully deducted, including tips or occasional freelance work. We help you understand what must be included, and how to distinguish between gross income and taxable profit.
Can I claim expenses if I work from home?
Yes, you can. If you are self-employed and use part of your home for business, you can claim a portion of your home expenses. There are two main ways:
- Flat-rate method based on hours worked per month
- Actual cost method, where a proportion of expenses (rent, utilities, internet) is allocated based on business use
We can assess your setup and recommend the most tax-efficient method. And from our experience, many people underclaim here, especially if they use a home office daily.
Furthermore, if you currently do not have a separate office, you might want to consider our registration address rental service. Using our firm as a formal address comes with the benefits of privacy, a professional presence, and that we can take care of HMRC enquiries right away for you.
What happens if I miss the self assessment deadline?
If you miss the 31 January deadline, HMRC will charge a £100 fine immediately, even if you owe no tax. After three months, daily penalties apply, and after six months, further charges of 5% of the unpaid tax are added.
Late filing also increases your audit risk and delays any tax refunds. If you are already late, we can help you file as soon as possible, communicate with HMRC if needed, and check if you qualify for a reasonable excuse.
Can you help with corrections if I filed something wrong in the previous year?
We can do this for you, although always within legal boundaries. If you made an error on a previously submitted return, you can usually amend it within 12 months of the original deadline. For errors that occurred earlier, you may need to write to HMRC directly or submit a disclosure.
But no worries! We help identify what went wrong, assess whether you overpaid or underpaid, and correct the record. Our team can also represent you in communications with HMRC to minimise penalties or interest where possible.