Whether you’re a small business owner, freelancer or business partnership, preparing your paperwork each year or going through the self-assessment process for the first time can often seem daunting or tedious. Here at Leon & Company, we understand the pressure your tax return can bring and take pride in doing the hard work for you, so you can concentrate on running your business.
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When Is a Self Assessment Tax Return Required?

HM Revenue and Customs (HMRC) uses Self Assessment as a system to collect Income Tax.

  • money from renting out a property
  • tips and commission
  • income from savings, investments and dividends
  • foreign income

Check if you need to send a self assessment tax return here.

You must send a tax return to account for in the last tax year you were:

  • self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
  • a partner in a business partnership

You may also need to send one if you have any other untaxed income, such as:

Need advice? Speak to our team

 

How We Can Help

Remind you of upcoming deadlines

There are various deadlines and responsibilities that you need to be aware for self assessment tax returns. We can remind you of any upcoming deadlines to make sure you’re prepared well in advance and that any information is submitted in a timely manner. Your personal tax return doesn’t have to be taxing.

 

Improve Your Tax Efficiency

As part of your self assessment tax return, we will assess your tax liability to ensure you are paying the amount you are liable for. We can then make recommendations on how to improve your tax efficiency if we identify opportunities for savings. Our team will also flag any potential issues before they arise.

 

Making Tax Digital

The current rollout of Make Tax Digital means that the tax administration process is changing. The move online aims to make processing your self assessment tax return online quicker and more efficient. Our team offers a quarterly VAT review and MTD-compliant filing service. We will regularly review your tax calculations to ensure all is HMC compliant and to identify any opportunities for cost-saving efficiencies.

We also offer training in small business accounting software such as Quickbooks and Xero to make any change as hassle-free as possible.

 

Our Services

• VAT return

• Corporation tax

• Tax investigation insurance

• Personal tax

• Property tax advice

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About Leon & Company

We are members of the Chartered professional body (ICAEW) and have over 35 years experience in providing genuine, helpful advice to our clients. Our clients are so much more than a number and we take the time to understand your needs and requirements as an individual or small business.

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Small business accountants

Any questions? Contact us now!