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