Self Assessment

"Cayos Consulting have provided accounting services for my Limited Company for the past two years. They have also provided personal tax advice and services for both my wife and I. Their services provided has been exemplary and I would have no hesitation... read more

Mr Damon Adendorff
Company director

Self Assessment

The personal tax year runs from the 6 April – 5 April. If you are employed through PAYE (Paye As You Earn), your employer will have deducted tax from your salary on behalf of HMRC, and you won‘t usually need to complete a self assessment tax return.

If you registered as self-employed, were a company director at any point during the tax year, or received rental income; you are required to file a self assessment tax return.  Your tax return must be filed online before the 31 January and failure to lodge on time will result in a late filing penalty.

We have identified three of the more common reasons for having to complete a self asessment tax return. There are however several others and if you are not entirely sure if you fall into this category, we encourage you to contact us to discuss your individual circumstances.

We can prepare and submit your tax return online on your behalf with our fees start from £99 including VAT. Included in our expertise, we will provide advice on the various allowances available and claim tax relief where possible.

What documents do you need?

It is important that you have kept an accurate record of all income earned, as well as any expenses incurred during the tax year. If you are working under the Construction Industry Scheme, your contract employer should be issuing you with CIS vouchers confirming your pay.

As you have the option of claiming expenses directly related to your employment, you are required to provide original receipts for all expenses claimed. Please retain these as HMRC could request that you produce these.

Examples of the expenses you can claim include:

  • Job related tool/material purchases
  • Travelling related to your job
  • Clothing or other equipment essential to your job
  • Professional fees and memberships

Should you require further information, please do not hesitate to contact us at accounting@cayosconsulting.co.uk.

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Need to speak to one of our consultants about our Tax Refunds.

Call us 020 7415 7175
Email tax@cayosconsulting.co.uk
 
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