Self Assessment / Tax Returns
Self Assessment is the system HMRC uses to collect Income Tax and has been the mainstay of individual UK taxation since 1996.
Under the Self Assessment system, tax returns are filed under the ‘file now, check later’ system, taking into consideration your income alongside outgoings and allowances.
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Self Assessment Help - Call free on 0808 169 9090
For most people, completing their annual Self Assessment return is both complicated and stressful. Our personal tax advisers aim to take the hassle out of preparing and submitting your Self Assessment tax return. We assist clients nationwide and overseas.
From our experience we know that many individuals struggle to understand the rules of when and how to file tax returns, including when they should register with HMRC and what are the triggers for Self Assessment.
Failure to file your Self Assessment tax return and pay the tax you owe make result in costly penalties. Under the current system, HMRC have essentially passed the responsibility for administering their tax on to taxpayers themselves. Our Self Assessment advisers will ensure that you submit your returns on time and pay the right amount of tax.
Help With Your Tax Return
Depending on the complexity of your income and outgoings we can offer a fixed fee service to prepare and submit your Self Assessment return. The sooner you contact us to discuss your circumstances, the sooner we can start to help you.
There will be information that you need to provide, such as your Unique Taxpayer Reference, your National Insurance number, your latest p60 (if you have one), along with information in support of your income and outgoings. The more time you can allow for the collection of all this information, the better.
Given how complex the UK tax system is to navigate for many, Equatas Accountants aim to provide cost effective service to take the hassle out of managing your tax affairs.
In addition to assisting in the preparation and submission of your Self Assessment returns, we can also ensure that you remain tax compliant with HMRC. We will provide you with reminders throughout the tax year to ensure that you keep up to date with your tax payments and keep records of the relevant information relating to your Self Assessment return.
We assist a wide range of individuals including self employed, sole traders and those in partnerships, and employed individuals with additional income sources, such as rental property income. Our Self Assessment team will be on hand to answer any queries you have about your tax affairs.
In April 2019, HMRC launched its new Making Tax Digital (MTD) initiative, which allows individuals to submit tax records and information to HMRC electronically. You can read more about MTD here.
We offer a free initial phone consultation to discuss your tax affairs.
To hear more about our services or to discuss your specific Self Assessment Tax Return requirements with a member of our team call 0808 169 9090
Alternatively you can send an email to enquiries@equatas.co.uk
or fill out an Enquiry Form
and a member of our team will contact you at the earliest possible convenience.
Forths Tax / Forths Accountants becomes Equatas Accountants. Forths Tax / Forths Accountants is delighted to announce that with effect from 1st April 2022, the business has rebranded to Equatas Accountants. As you may be aware, in July 2020, the wider business behind Forths Tax / Forth Accountants was acquired by the listed FCA regulated company, Frenkel Topping Group (‘FTG’) as part of their significant expansion plans. At the date of acquisition FTG already had it’s own small general practice and the rebranding of Forths Tax / Forths Accountants to Equatas Accountants simply serves to bring all of our general practice tax and accountancy services under one roof. From a practical perspective the rebrand will have no impact on our offering and the quality of the service that all clients receive. However, in line with FTG’s own expansion plans, there are also significant growth plans in the pipeline for Equatas Accountants, as we set about widening the services that we can offer to our clients and also investing heavily in various cutting-edge technologies so that we can offer market leading services in the most efficient way. In addition, it is important to note that as Equatas Accountants is a part of FTG, you also now have access to the full range of financial services that FTG provide as Independent Financial Advisers, from the obvious pensions and investment advice to (perhaps less obviously) advice on a variety of different insurance policies. Yours Sincerely, The Equatas Team
There are things you can do to give your business the best chance of survival and success, during and after the pandemic. These steps often go hand-in-hand with the services and advice of an accountant. A key to staying on top of your business’ financial affairs is knowing exactly where you stand. This means knowing your business’ cash flow, as well as upcoming and future tax liabilities. We can provide you with the information to plan and make proactive decisions by preparing your accounts and tax returns. Lockdown is the perfect time to sort out business records and get your accounts up-to-date. As tax advisers and accountants, we regularly contact our clients with updates of any government measures or news that we think may be relevant to them individually. This includes talking to clients about the Bounce Back Loan Scheme which will provide a vital lifeline to many businesses over the coming months. The self-employed, partnerships and companies can all apply for this loan up to a maximum of £50,000. Even if your business does not currently need this loan, it may be worth discussing whether it will be needed in the future, as the knock-on effects of the pandemic on business are uncertain. For clients with employees, we are calculating and submitting furlough claims on their behalf, as well as processing their payroll. We are helping our clients identify which tax payments can be reduced or deferred to support their cashflow over the coming months. We also keep everyone informed of deadlines so that they do not fall behind. All of us at Forths Tax are fully contactable and providing our services as normal via email, over the phone, and through the post. We are also able to speak to you through Zoom, WhatsApp, or Facetime if you prefer. If you are local to Leeds or Manchester and would prefer to drop off your business records, we can arrange a time to meet you at our offices whilst maintaining social distancing. If you would like to speak to us about how we can help you, please call us on 0808 169 9090 or fill out an Enquiry Form and we will contact you directly to discuss your circumstances.
Individuals are quite rightly constantly looking for ways to mitigate their tax position and legitimately minimise what they have to pay to HMRC. The key to this sentence is clearly the word legitimate. In May 2020, the press reported the criminal prosecution of former HMRC employee, Martyn Arthur, for submitting inaccurate tax returns and cheating the public purse out of £120,000, who in 2009 published a book entitled ‘The Taxpayer Strikes Back’ about how to stand up to HMRC. Ironically, it would appear as though he has failed to heed his own advice. Obviously, simply not declaring your legitimate taxable income is not a plausible tax planning strategy and we would certainly not want any of our clients to be in the same position as Mr Arthur. We recognise, however, that there are numerous different ways that individuals can find themselves in a position where they have an issue with HMRC that will be causing them stress and anxiety. Our unequivocal recommendation when individuals find themselves in this position is to contact an appropriately qualified and experienced tax investigation specialist to guide them through what may seem like a maze. A tax investigation specialist with an in depth knowledge of the relevant process will robustly present the tax payers position from a technical perspective and also provide assurance that all features of their case have been properly considered. Further information about our specialist tax investigation and disclosures services are available on www.taxdisclosures.co.uk We provide both tax planning and tax investigation services. To discuss your circumstances, call us on 0808 169 9090 or fill out an Enquiry Form and we will contact you directly.
Contact us today to find out how we can assist you...
To hear more about our services or to discuss your circumstances with a member of our team, call us on 0808 169 9090.
Alternatively, you can email us at
enquiries@equatas.co.uk
or fill out an Enquiry Form
and we will contact you directly.