The majority of people in the UK pay income tax from salary, pension, and savings. People and businesses are not taxed at source and have to complete a Self assessment tax return.
The following people usually have to send a tax return,
- If you are self employed
- A company director
- Landlords who rent out their property or Land
- If your Savings or investment income was over £10,000 before tax
- If you have taxable foreign income
- A trustee of a trust or registered pension scheme
- If you received a P800 form from HMRC saying you didn’t pay enough tax last year
Whether you are a company director or self employee, Fab Accountancy will work hard to make sure that all legitimate allowances and deductions are factored into the calculation of your tax liability and provide comprehensive tax advise.