Self Assessment

Personal Tax Return Cornwall

Why do I need to complete a self assessment tax return?

HMRC require individuals and businesses to declare income and expenses and pay and tax and national insurance that may be due. It is important to make sure your return is correct so you pay the correct amount and not over/under pay.

Who needs to submit a self assessment?

You will normally need to submit a return if you are; self-employed, the director of a company taking dividends, a landlord, CIS, employed but incur expenses related to your job or if you earn over £50,000 but still claim child benefit. HMRC have published a full list here.

I’m a bit overwhelmed what do I need to do?

If you don’t know where to start or simply don’t have time to complete your self assessment, our friendly accountancy service can help. We can complete and submit your tax return making sure you can claim all the allowable expenses that you are able to. Avoid costly mistakes and let us do the work for you.

Fancy a little help?

If you are a business looking for help with your self assessment please get in touch. We cover all areas in Cornwall and further afield too, we can prepare and submit your personal tax return for you. Please use our contact page to see how we can help or call 01209 702920.

A handy outline of the tax life-cycle

Self Assessment Cornwall

If you have registered for self assessment HMRC will notify you not long after the end of the fiscal tax year if you need to complete a self assessment tax return.

The tax year runs 6th April – 5th April of the following year. If you are not sure how to register please click here.

A sole trader is responsible for making sure that their self assessment is correct and submitted on time as well as any taxes due paid on time.

You have until 31st January of the following year to submit and pay your tax return.

If you are late HMRC will issue fines which starts at £100 penalty immediately after the cut off date.

What will you need to give to us;

We need to have details of any payments made for business expenses e.g receipts and invoices, bank and credit card statements. You will need details of shares, interest, dividends, gift aid payments and personal pension plan certificates.

Personal tax Cornwall

Tidal bookkeeping offers a professional self assessment service to sole traders in Cornwall and further afield.