Tax Returns (Self-Assessment)

Hi, you have found the Personal Tax Return page.

We suspect you may be thinking you need help completing your Self-Assessment tax return.

You could be thinking:

• What is a Tax Return?
• Do I need to do one?
• How much will it cost?
• I am worried if I do it myself I could make mistakes, but I don’t wont to pay huge sums to have help!

What is a Tax Return?

A Self-Assessment Tax return is a “form” that tells the Revenue and Customs what your total income is for a tax year and how much tax you should pay for the year and how much you have already paid and hence how much you now owe.

Paper returns can still be completed provided that they reach the Revenue and Customs by the 31st October each year.

If they don’t then an online form must be used.

We only file returns electronically unless for some reason this is not possible.

Do I need do a tax return?

If the Revenue and Customs have asked you to complete one for a particular year then yes you must. And if you don’t you will be fined.

Basically, if any of the following apply to you then you probably need to do a return.

1. Have untaxed income.
2. Are a higher rate tax payer.
3. Have benefits in kind.
4. Children s tax credits and someone in the house you are living in has an income over £50,000.
5. Income from property.
6. Self-employed income.

The above list is not exhaustive and you should seek advice if you are unsure.

How much does it cost for Nigel Ricks & Company Ltd to help me?

Our fees for this service are very simple.

1. Where we have all the information before 31st October then there is a base fee
2. Where we have all the information by the 31st December then there is a base fee + £50 + VAT
3. If we do not receive all the information before the 1st January then there is a base fee + £100 + VAT

Then there are additional small charges for each additional entry.

Entering accounts has a larger charge.

Capital Gains also has a larger fee and the calculations of gains is charged separately. (It is just the entering of the gain we refer to here).

I am frightened that if I do it myself I might make a mistake.

The Government feel that the tax payer should be able to do these forms themselves.

However to do it correctly you should know all the tax law that covers the income you are declaring.

You should also know what you can claim for.

Most people who do their own Returns either don’t claim all they could or they make mistakes.

A lot of people find it very time consuming and stressful. So perhaps its a good idea to let us help you.