Frequently Asked Questions (FAQ)
Who needs to file a Self-Assessment tax return?
If you're self-employed, a freelancer, have rental income, or have other untaxed income, you need to file a Self-Assessment. If you're unsure, get in touch with us, and we’ll help you determine whether you need to file.
What is Making Tax Digital (MTD)?
Making Tax Digital (MTD) is a government initiative that requires businesses to keep digital records and submit tax returns electronically to HMRC. Our team will ensure your returns are MTD-compliant, so you don’t have to worry about the digital filing process.
When is the deadline for submitting my Self-Assessment?
The deadline for online submissions is 31st January following the end of the tax year. We’ll help you meet this deadline, avoiding late filing penalties.
Can you help me if I’ve missed a deadline?
Yes! If you've missed the deadline for filing your Self-Assessment, contact us immediately, and we’ll help you navigate the process and avoid additional penalties.
Self-Assessment Tax Return Services
Accurate, Stress-Free Self-Assessment Filing
Self-assessment tax returns can be time-consuming and complicated, but at Bookkeeping by Fox Wood, we make the process simple and stress-free. Our team of tax professionals ensures that your self-assessment is completed accurately and on time, so you don’t have to worry about penalties or missed deadlines. Whether you're a freelancer, sole trader, or have multiple income sources, we've got you covered.
Our Self-Assessment Tax Return Services Include:
Preparation and Filing of Self-Assessment Returns
We provide a complete service for preparing and filing your annual self-assessment tax return. Our experts ensure all income, deductions, and allowances are correctly reported to HMRC, so you pay the right amount of tax.
Guidance on Income Sources
Whether you have income from self-employment, property, investments, or other sources, we’ll guide you on how to report and manage multiple income streams accurately within your self-assessment.
Support for Self-Employed & Freelancers
If you’re self-employed or a freelancer, our team will ensure that all business-related expenses are properly accounted for in your tax return, helping you claim deductions you’re entitled to and avoid overpaying taxes.
Making Tax Digital (MTD) Compliance
With the UK’s transition to Making Tax Digital (MTD), we help you stay compliant by ensuring your tax returns are filed digitally in the right format, reducing errors and streamlining the process. MTD is now mandatory for VAT-registered businesses, and we can assist in ensuring your transition to digital record-keeping is seamless.
Why Choose Us for Your Self-Assessment Tax Returns?
Expert Knowledge: Our team is up-to-date with the latest tax laws and regulations, including Making Tax Digital, so you can trust us to handle your self-assessment efficiently and accurately.
Maximized Deductions: We ensure all your eligible deductions are claimed to minimize your tax bill, whether it's business expenses, allowances, or pension contributions.
Hassle-Free Process: We take the stress out of self-assessment. With our expertise, you can avoid penalties, overpayment, and errors that could result from DIY filing.
MTD-Ready: As the UK moves to Making Tax Digital, we ensure your tax return is filed digitally, reducing errors and complying with new regulations for seamless, efficient filing.