Self-Assessment involves completing a tax return each year to show your income and capital gains (also profits on the sale of certain assets) and claim tax allowances or reliefs on your tax return, but not everyone needs to complete a tax return.
If your tax affairs are straightforward you may already pay all of the tax due on your earnings or pensions through your tax code so you won’t need to worry.
But if you have more complicated tax affairs you may need to complete a tax return, even if you already pay tax through your tax code.
There are also certain circumstances in which you will always need to complete a tax return - for example if you’re self-employed, a company director or receiving foreign income.
If you are unsure about whether you need to complete a tax return or how to complete one, you can contact MVL Business Services and we’ll be happy to help you to navigate the maze of self-assessment rules!
MVL Business Services are accountants in Battle with 20 years’ experience and expertise, who provide a first class service that can take care of all your self-assessment worries at affordable rates, so you can focus your time on more important matters and avoid receiving HMRC Fines!
Contact Mark Law on 01424775209 for our free initial one hour consultation.