Understanding Self Assessment Tax Return

Struggling with your self assessment tax return? Our personalised Self assessment service could be the right choice for you. We simplify the process, enabling you to file your tax returns confidently. Let our experts handle the process so you never miss a deadline.

Self Assessment Tax Returns

Confused About Your Self Assessment Tax Return?

Wealthmax Accountants takes all the necessary stress off your hands. Our accountants not only manage your self assessment filings but also advise you on how to minimise your tax liabilities. Whether you are a self employed individual, a landlord, a contractor or an investor, we make sure your tax returns are filed accurately and on time.

Our team of Accountants will identify the allowed reliefs and deductions, helping you minimise the tax liabilities and avoid HMRC penalties.

Do I need to file a self assessment tax return?

According to HMRC guidelines, a person must file a self-assessment only if they receive income other than a salary, pension, or income from savings. Any other type of income apart from those mentioned can make you liable for self assessment. If you meet any of the following conditions, you will need to do a self assessment filing.

  • You are self-employed as a sole trader and your income exceeded £1,000 before taking tax deductions.
  • You have a business in Partnership.
  • You earn rental income from property
  • You receive income from savings, investments, or dividends
  • You have a foreign income or investments
  • You have untaxed income (such as tips or commissions)
  • You had to pay Capital Gains Tax when you sold or ‘disposed of’ something that increased in value
  • You had to pay the High-Income Child Benefit Charge

Why Choose Us?

Expert Guidance:

Guidance from certified UK Accountants.

Minimised Tax Deductions

We identify allowable expenses & deductions.

Deadline Management:

We help you avoid penalties with timely filings.

Hassle-Free Process:

We handle everything while you focus on your business.

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Who Can Benefit from Our Self Assessment Services?

If you are an individual who needs to file self assessment taxes accurately and efficiently, Wealthmax is here for you. Our Team can help you with your self-assessment filings if you fall into any of the following categories

Self Employed Professionals:

Sole traders, freelancers, or consultants who need to report their income and claim relief on tax returns.

Landlords & Property Investors:

If you have an income from investing in properties or a rental income, you can benefit from our self assessment services.

Contractors & CIS Workers:

Individuals working in the construction industry who require tax return submissions.

High Earners & Directors:

Company directors and high-income earners who need to register their income can benefit from our service.

Investors & Shareholders;

Individuals with dividend income, capital gains or other tax liabilities requiring in-depth tax calculations.

Expats & Non-Residents:

People who live abroad but have some income source in the UK can benefit from our services, navigating the complex UK tax laws.

Our Packages

Select a package that fits your needs and enjoy stress free financial management.

Standard
Self Assessment
Premium
Self Assessment

Let’s Simplify Your Tax Return

Book a Free Consultation and let’s ensure your tax return is filed accurately and on time.