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Self Assessments

Self-Assessment is a system Her Majesty’s Revenue and Customs (HMRC) uses to collect Income Tax. It is usually deducted automatically from wages, pensions, and savings. People and businesses with other income must report it in a tax return. It details an individual’s financial information, like earnings, expenditures, taxes, and national insurance, in a particular tax year. 

  

Self-Assessment tax returns must be completed once a year by either 31st October (paper returns) or 31st January (online returns). Your return declares how much taxable income you have earned in that financial year and lists any expenses or reliefs you may be eligible to claim. Under the Making Tax Digital initiative, annual returns will be replaced by quarterly updates. You’ll need an online HMRC account for this purpose. 

  

People with more than one income stream can use Lanop’s Self-Assessment service to eliminate the stress of filing accurate and timely tax returns. Our Self-Assessment Specialists ensure that you pay the least amount of taxes possible by providing a quick, accurate and compliant return as part of our extremely cost-efficient service. 

  

Lanop Accountants eliminate the need to search for an all-encompassing accountancy firm. Our corporate headquarters in London provide practical and efficient solutions to all your accounting needs. 

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To pay self-assessment tax in the UK, follow these steps: 

  1. Calculate Tax Liability: Determine the amount of tax you owe based on your self-assessment tax return. 
  2. Payment Methods: There are several ways to pay:  
  3. Online: Pay through the HMRC website using a debit/credit card or bank transfer. 
  4. Direct Debit: Set up a direct debit for future payments. 
  5. Bank Transfer: Use your bank’s online or telephone banking service. 
  6. Pay by Post: Send a check to HMRC with the payment slip from your tax bill.
  7. Payment Deadlines: Ensure you pay by the due dates to avoid penalties and interest charges. 
  8. Keep Records: Keep records of your payments and relevant tax documents for future reference.

To claim tax relief on a self-assessment form in the UK, follow these steps: 

  1. Identify eligible expenses for tax relief. 
  2. Complete the self-assessment form (SA100) accurately. 
  3. Enter claimed amounts for eligible expenses in the appropriate sections. 
  4. Attach supporting documents like receipts. 
  5. Submit the form and required documents to HMRC before the deadline. 
  6. Await confirmation from HMRC regarding any tax adjustments or refunds. 
  7. Keep copies of the submitted form and documents for record-keeping. 
  1. Calculate eligible working-from-home expenses, e.g., utility bills, internet, office supplies. 
  2. Choose between simplified expenses (e.g., £6 per week) or itemizing actual expenses if well-documented. 
  3. Complete the self-assessment form (SA100) and enter the total amount claimed under allowable expenses. 
  4. Provide a brief explanation of the calculation of the actual expense if chosen. 
  5. Submit the self-assessment tax return and required documents to HMRC by the deadline. 
  6. Retain records of expenses and supporting documents for future reference. 

 
The deadline for filing your Self-Assessment tax return is 31 January each year. For the tax year 2021-22, the due date to submit your taxes is 31 January 2023. It’s crucial to meet this deadline to avoid penalties and interest charges. Make sure to prepare and submit your tax return promptly to stay compliant with HMRC regulations. 

Our CaseStudy

Experience&Give HighSuccessRates

Sole traders are individuals who own and operate their businesses. Managing finances and paying taxes are among their responsibilities, as well as finding customers and offering products and services. Keeping track of one’s finances can be difficult for sole traders due to the day-to-day responsibilities of their businesses.

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WHAT CLIENT SAYS

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  Excellent  
    
 Based on 102 reviews 
  
 
 
 
 
 
 
  
 
 
 
 Steven George-Hilley 
 
 
 Steven George-Hilley 
 
2022-08-09
 
 
  
Our accountancy partners from the very beginning. A great team that tailors its services around the needs of the client, always available for advice, whenever its needed. Love working with them.
  
 
  
 
 
 
 Asfand tahir 
 
 
 Asfand tahir 
 
2022-07-01
 
 
  
I really don’t know where to start from i can not explain my happiness into words  i can try but for sure there must be so many praises remains at the end
Thanks indeed indeed Zaib And Lanop all team you guys are amazing i would say if I didn’t have you guys i would have been failed in many things All credit to Lanop what a brilliant firm
Lanop Its all about you
Zaib And Rehmat Thanks indeed you have done amazing job due to your work i have got my Tier 1 extension application successful within 47 days I can’t believe that i am so happy what a job you did I would advise Everyone come to Lanop for 100% guaranteed success in your immigration matters and all other accounting purposes Trust me, When name comes to success and successful it means Zaib.
Big thanks to Rehmat What a team i had they are so lovely i disturbed them alot but they answered me every time For all my enquiries
Rehmat the legend thanks indeed no words for you words are far behind, can’t explain you in words
Rehmat and Tahir sorry I disturbed you alot and indeed you still helped every time. Rehmat is Very very professional the way he works I don’t think anyone does that way in entire country.
Sidra Thanks alot for amazing help indeed You are amazing I dont know how to say how much i am happy from your work as well
Kainat you too thanks alot
Rehmat all credit goes to you thanks alot without your help I won’t be able to write all this today
I am so grateful to you all
What a team. Make sure guys you join Lanop without wasting anytime.
Lanop Accountants ZINDABAD
  
 
  
 
 
 
 jas singh 
 
 
 jas singh 
 
2022-01-10
 
 
  
I have been a client of Lanop Accountants for the last 4 years and am extremely happy with their services. Zaib and his entire team is extremely professional and dedicated; they always respond swiftly and take personal interest in the business case. I have special words of praise for Rehmat and Waqar as they both helped me in my visa extension process immensely. Zaib has built a team of dedicated professionals and the work ethics speaks volumes about their firm. I would definitely recommend them!
  
 
  
 
 
 
 Vinnit Patel 
 
 
 Vinnit Patel 
 
2021-12-03
 
 
  
Very professional services, extremely pleased with the advice and work carried out on our accounts.
  
 
  
 
 
 
 László Kohányi 
 
 
 László Kohányi 
 
2021-10-12
 
 
  
I like their flexible approach. I had a bunch of small problems what was too little to big firms but too big for me.

They explained the process, fees etc and solved my troubles.

Price wise also been on the better side.

Personally I recommend Rehmat. He is super responsive.
  
 
  
 
 
 
 Alexey 
 
 
 Alexey 
 
2021-05-18
 
 
  
Having been a client of Lanop Accountants for nearly 5 years, can't recommend them highly enough. Great professional team working 24/7 to meet every customers's need.
  
 
  
 
 
 
 Eda Kendirli 
 
 
 Eda Kendirli 
 
2021-05-04
 
 
  
Best and accurate service. Saved me so much time and money.
  
 
  
 
 
 
 Femi Yusoof 
 
 
 Femi Yusoof 
 
2021-01-29
 
 
  
I have been using Lanop Accountants for more than 3 years, and could not recommend them more highly to any one starting out in business or established business practice. Their professionalism, promptness and excellent customer service makes them in my opinion second to none.
  
 
  
 
 
 
 JN 
 
 
 JN 
 
2021-01-22
 
 
  
I used Lanop accountants to file some paperwork with HMRC as a non-dom resident. I’ve been very happy and impressed with their work so far. Zaib has been very knowledgeable and helpful. I recommend them and plan to use them again.

Meet Our Experts

Our team consists of skilled and experienced accountants and financial advisors. These professionals are able to assist individuals, entrepreneurs, business partners, and larger ventures with their financial and accountancy acumen. 

CEO of Lanop

Aurangzaib Chawla

Tax Partner

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Muhammad Sohaib

Muhammad Sohaib

Financial Accountant

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Custom Service Page

Self Assessment Registration

Because we understand how valuable your time is, you can trust Lanop’s team of tax experts with your self-assessments and registration on the HMRC online portal for an accurate, well-calculated, and timely declaration of tax liabilities. 

Rental Income

Our tax accountants specialise in the property sector. They will help you with tax planning, property tax, and rental income disclosure for resident and non-resident landlords. This advice includes property VAT planning, holding properties in a limited company, and splitting companies with trading and property investment activities. 

Let Property Campaign

Our tax specialists have significant experience dealing with voluntary tax disclosures and investigations. They can advise on the best strategy to adopt to minimise potential penalties and further negotiate affordable repayment terms with HMRC on your behalf. 

Capital Gains Tax Disclosures

Capital gains tax can be considered a voluntary tax because, with effective planning, it can be avoided, reduced, or delayed to a future date. Our CGT experts can help reduce your CGT bill by fully using available allowances and reliefs and applying valid tax deductions. We will also prepare and submit assessments within 30 days of completion. 

Tax Planning

Lanop’s wide knowledge of industry-specific tax reliefs and in-depth counselling on tax saving and investment planning for individuals and corporations make us your true friend when planning for taxes. Give us a call. We will make your life easier. 

HMRC Investigation

All types of tax investigations are handled at Lanop. Our expert chartered accountants offer competent advice on subjects such as COP 8 (Tax Avoidance), COP 9 (Suspected Serious Fraud), HMRC Nudge Letter, Disclosure Facilities, fraud, VAT and PAYE investigations.  

Blogs

Non-Residents to Pay Capital Gains Tax on Sales of UK Residential Property
March 10, 2023 HMRC | Self-Assessments

Non-Residents to Pay Capital Gains Tax on Sales…

Becoming non-resident and death have traditionally been some of the…

No Late Filing Penalty To Be Imposed On Self-Assessment Customers Who File Online By 28 February!
March 6, 2023 HMRC | Self-Assessments

No Late Filing Penalty To Be Imposed On…

Acknowledging the exceptional circumstances created by the pandemic, HMRC Chief…

Important Dates and Deadlines for the UK Tax Year 2023/24 
October 26, 2023 Self-Assessments | Tax Planning | Taxation | VAT

Important Dates and Deadlines for the UK Tax…

Are you searching for important dates for taxes in the…

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0208-392-9375

Address: 389 Upper Richmond Rd, London SW15 5QL, United Kingdom.

Email: inquiries@lanop.co.uk

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CEO of Lanop

Aurangzaib Chawla

At Lanop, I am providing my services as the Managing Partner and Tax Specialist. My expertise includes helping medium and small-scale businesses in their accountancy and legal requirements, business start-up support, strategic review, payroll system review and implementation, VAT and tax compliance to cloud accounting. I am also an expert in financial reporting, identifying and monitoring risks, strategic business development, client retention, market acquisition and deals closure by carefully planning my sales cycle. 

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Muhammad Sohaib

Muhammad Sohaib

Senior Financial Accountant

 

I am a qualified finance professional with over 8 years of diverse experience and proven track-record in accounting and finance, tax planning, preparing annual accounts, dealing with tax investigations and strong customer relationship management. I have also served in the higher education institutes to teach financial accounting and financial management to undergraduates and MBA students. Apart from my core expertise I am also leading and managing Lanop’s team of client managers across continents. I am also responsible for the quality control of the work and the provision of streamlined services to all our customers. Apart from work, I am a real Tennis enthusiast & sports player at heart.

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