Self-Assessment Tax Returns

Black and White Accounting prepare and file self-assessment tax returns for individuals, sole traders, partners, and company directors nationwide.

It’s easy to make errors on a self-assessment form with the likely result being that you either pay too much tax or too little. If you pay too little tax, you run the risk of the mistake being discovered and the imposition of fines as a result.

The self-assessment form and the additional sections a taxpayer must fill in are both time-consuming and complicated. 

For company directors, we are happy to advise you on how to balance salary, dividends, and other sources of income to minimise your tax liability legally as much as possible.
Please use the form below, call us free on 0800 140 4644, or email [email protected] to learn more.

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Deadline for self-assessment tax returns

The self-assessment tax return deadline is midnight on the 31^st of January following the end of the previous tax year.

For taxpayers still using the paper self-assessment form, the deadline is the 31st of October following the end of the previous tax year.

The tax year runs from the 6^th of April to the 5^th of April. 

Self-assessment late filing penalties

HMRC imposes fines for taxpayers failing to submit their self-assessment forms on time.

There is an automatic £100 for failing to submit your form on time.

If you are three months late, there will be a £10 fine for every day your self-assessment is late, up to a maximum of £900.

For taxpayers who submit their assessment six months late, an additional fine of either 5% of the tax owed or £300 will be levied (whichever is the greater).

A further additional fine of either 5% of the tax owed or £300 will be levied (whichever is the greater) if your self-assessment or payment is 12 months late.

Late payment penalties

In addition to fines for filing late, there are extra penalties for paying late.

A 5% charge on the tax owed on that particular day is levied when payment is 30 days late, 6 months late, and 12 months late. During this time, interest is charged on the amount owed including the charges.

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Self-assessment tax returns form

We will submit your self-assessment tax return form either online or in paper form – whichever option is better for you.

If you’re not already using one, we’d strongly recommend using an online accounting platform like Xero to keep your personal and business accounts up to date.

These platforms not only allow you to categorise expenses by type but they also provide you with a running estimate during the year on the likely size of the tax liability you’re accruing which you declare on your self-assessment form.

Please get in touch with us to find out more about how to integrate online accounting platforms into your business.

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Completing a self-assessment tax return

complete and file a self-assessment tax return on your behalf in good time to meet HMRC’s submission date. We can complete either a digital or paper return for you.

For self-assessment tax returns online, we will email you the form prior to submission so that you can check that you’re happy with it and that you agree with our assessment of how much tax you owe.

We submit your records using our own agent self-assessment tax return log-in account – we also complete all the pages for you including the extra sections if applicable:

• Capital Gains Summary – SA108
• Employment – SA102
• Foreign – SA106
• Lloyd’s underwriters – SA103L
• Partnership (Full) – SA104F
• Partnership (Short) – SA104S
• Residence, remittance basis – SA109
• Self-employment (Full) – SA103F
• Self-employment (Short) – SA103S
• Tax Calculation Summary – SA110
• Trusts – SA107
• UK Property – SA105

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Self-assessment accountants in Hampshire and Surrey

To speak with one of our accountants about self-assessment, please use the form below, call us free on 0800 140 4644, or email [email protected]. 

Black and White Accounting is a firm of Hampshire- and Surrey-based accountants and business consultants. Find out more about the range of services we offer to personal and corporate clients at a fixed monthly fee.