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At Styles & Associates we can help and provide a complete Self Assessment preparation service. We will calculate any income tax owed or rebate payable and submit the tax return to HMRC on your behalf

Self Assessment.

Self Assessment
Self Assessment Calculations

What is Self Assessment?

Self Assessment is a system used by HM Revenue and Customs (HMRC) to calculate tax on your income.

Who needs to complete a Self Assessment?

If you are self-employed as a 'sole trader' and earned more than £1,000 in a tax year you must file a tax return. If you are paid through PAYE tax is automatically deducted from your wages. If you receive additional income from savings, investments, shares, dividends, property rental or other source you may need to report this to HMRC by filing an annual Self Assessment tax return. 

When do I need to complete a Self Assessment tax return?

HMRC Self Assessment tax returns should be filed annually by 31st January after the end of the tax year it applies to. Tax years run from 6th April to 5th April the following year. It is important to file your self assessment within the time frame - if you miss the completion date you will face a fine of at least £100 - even if there's no tax to pay.

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At Styles & Associates we provide a complete Self Assessment service in 3 easy steps:

  • We can assess if you are required to file a self-assessment tax return.

  • Register for an online self-assessment account.

  • Prepare and file your assessment.

How do I fill out a Self Assessment?

Self Assessment Tax Returns.

Self Assessment Help
Self assessment Alton

How long does it take to register for Self Assessment online?

You need to register for a unique taxpayer reference (UTR), then set up an online account. Once this is complete you will be sent an activation code.

 

The UTR and activation code are sent from HM Revenue and Customs (HMRC) by post, so allow 10 working days (21 if you're abroad) to complete the process.

What happens after I have filed my Self Assessment?

HMRC will usually send you a self-assessment statement that shows how much you owe, or you can check your tax bill online.

How do I pay HMRC Self Assessment Tax?

There are a number of convenient ways to pay your balance:

Same or next day

  • online or telephone banking (Faster Payments)

  • CHAPS

  • by debit or corporate credit card online

  • at your bank or building society

You need a paying-in slip from HMRC to pay at a bank or building society.

3 working days

  • Bacs

  • Direct Debit (if you’ve set one up with HMRC before)

  • by cheque through the post

5 working days

Direct Debit (if you have not set one up with HMRC before)

How will I know if I am owed a tax rebate or refund? 

If you are due a tax rebate HMRC will inform you by P800 calculation notice.  

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Alton

Aldershot

Andover

Alresford

Basingstoke

Bordon

Cobham

Esher

Guildford

Farnham

Farnborough

Hampshire

Areas we cover:

Haslemere

Hindhead

Midhurst

Newbury

Petersfield

Petworth

Portsmouth

Southampton

Surrey

Sussex

Weybridge

Winchester

Self Assessment Services across the South.

We welcome new enquiries from sole traders seeking self assessment services in Alton, Hampshire and the surrounding areas.

Free Consultation

At Styles & Associates we can help and provide a complete Self Assessment preparation service.

 

We will calculate any income tax owed or rebate payable and submit the tax return to HMRC on your behalf.  Call: 01420 541 554 for more details.

Need help with your Self Assessment?

01420 541 554

Mon-Fri 9am-5pm

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Registered Company Address: Berkeley House, Amery Street, Alton, Hampshire, GU34 1HN.

Styles & Associates Ltd, registered as a limited company in England and Wales under company number: 8697082.

© 2020 Styles & Associates