Tax Returns

If you need a self assessment tax return completing for 2019/20 then you've come to the right place. You may need to complete a tax return if you fall into one or more of the following categories:

  • Higher Rate Taxpayer

  • Self Employed

  • Partnership

  • Company Director

  • Landlord

  • Income from Capital Gains

  • Income from Other Untaxed Sources such as Dividends

 

Failure to complete a tax return for 2019/20 and submit it electronically to HM Revenue and Customs by 31 January 2021 will result in a fixed fee penalty.

Provided you can provide full details of all your income and expenses then we can complete your tax return for a very competitive fixed fee quote.

Self Employed

If you are self employed you will need to complete and send a tax return to HM Revenue & Customs before the deadline of 31 January 2021 (2019/20 tax returns). We can prepare accounts for your business as well as completing your tax return, and submit them electronically to HM Revenue & Customs before any pending deadlines.

If you have only become self employed in the current tax year (2019/20) then you do not need to complete a tax return just yet. Despite this, you still need to register as self employed with HM Revenue & Customs within 3 months from the end of the month in which you commenced self employment. Failure to register may result in a fixed fee penalty. We can help you with this registration for a small fee if you become a client for 2019/20.

If you are self employed and need to complete a tax return for 2019/20 (or earlier if you are a bit behind!), or you need assistance in registering as self employed, then please Contact Us to find out more about our service and our fixed fee quotes. Even if you do not need a tax return completing just yet you can still contact us to get an idea of our fees for your 2020/21 tax return and accounts.

Tax Refunds

If you have been employed in the UK and have paid tax on your employment income then you may be entitled to a refund.The examples of when you may have paid too much tax are:

  • You have had more than one job during a tax year

  • You have had at least one job and paid basic rate tax on one of the jobs (tax code BR)

  • You only work part time or have only worked for part of the tax year

  • Your main or only source of income is savings income

  • Your total income for the tax year (2019/20) was less than £12,500

 

If you think you may have paid too much tax at any time during the last few years then you may be entitled to a refund. Claims can be made with HM Revenue & Customs provided you have all the relevant documents to enable us to calculate your refund. If you do not have all your P45s or P60s for the relevant tax years then we would need to obtain details on your behalf from HM Revenue & Customs provided we become your authorised tax agents.

  

Please Contact Us to find out more about our tax refund service, and to get an idea of our fixed rate prices. Once we know more about your personal circumstances we will be able to advise you on whether we think you are due a tax refund.

Capital Gains Tax

Capital gains tax can be complicated, with so many exemptions and reliefs available. On the positive side, this makes it possible in many cases to reduce or even eliminate a potential tax liability, provided you know your way through this particular ‘minefield’.

 

Our specialist tax team deals with all aspects of capital gains tax, including:

  • Shares and investments

  • Property

  • Estate gains

  • Trust gains

  • Revenue enquiries and investigations

Please Contact Us to speak to one of our specialist advisers. 

Inheritance Tax 
 

You may have thought that only solicitors deal with all the paperwork when someone dies and until October 2014 you were right. Solicitors had a monopoly over this work. However this work is now being carried out more and more by specialist tax advisers. 

As tax advisers we are already very well qualified to deal with IHT tax calculations and completing and filing tax forms for HMRC and as you can imagine preparing accounts is our core business. We have also invested in extra training to ensure we can deal with all the legal aspects and the best modern technology to deal with paperwork efficiently. We are used to delivering quality services to agreed deadline for a clearly agreed fee.

Inheritance Tax (IHT)
We calculate the correct amount of IHT due when someone dies and complete and file all the relevant IHT forms with HMRC.  We can also help with IHT planning before death to help minimise the hefty inheritance tax payable at 40% on taxable estates.

Estate Accounts
We prepare detailed estate accounts for every case so you know exactly what has been collected and distributed

Advice to Beneficiaries
We advise beneficiaries of ways they may be able to save tax by efficient tax planning following probate

Please feel free to Contact Us for more information about any aspect of our services.

162 Market Street

Droylsden

Manchester

M43 7AA

Tel: 0161 370 3368

Email: info@sjkaccountants.co.uk

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