HMRC Self Assessment

Self Assessment is HMRC’s system for working out your tax. You must complete a tax return by 30th September every year if requested to do so by HMRC. A few key points are:

• You are self-employed, either as a sole trader or in a partnership

• You are earning enough to pay higher-rate tax

• The period covered by the return is the 6th April to the following 5th April

• Have complicated tax affairs (e.g. you have income from employment overseas or property)

• Have made significant capital gains during the tax year

See our Frequently Asked Questions section to read more on how HMRC decide whether or not it requires a tax return from you.

Keeping good records is essential. It makes it much easier to manage your tax returns and more importantly it’s a legal requirement – fines and even prosecutions can result from poor record keeping. We have extensive experience in advising on how best to record and maintain your financial records and prepare and present your annual retur