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Self-Assessment tax return

Tax return experts/ HMRC tax return

Do you need to complete a tax return? Have you been asked by HMRC? Do you find completing a return daunting and complicated?

Many people need to complete a self-assessment tax return for a range of reasons. We can complete tax return for anyone in the UK that needs to submit one. All our fees are rough estimates. We would be happy to give you an accurate quote.

No one wants to pay tax so we do everything possible to ensure you pay as little tax as legally possible.

We complete tax returns for wide range of clients in Gloucester, Cheltenham and further afield. Below is a list of reasons why you may be required to complete one:

  • Sole trader/ self employed 
  • Landlord
  • Interest income
  • Capital gains
  • Dividends
  • Overseas income if UK domicile
  • Annual income over £100,000
  • Higher earner and in receipt of child benefit 
  • Partnerships

There are many more reasons to complete a tax return. Feel free to contact us or visit HMRC directly https://www.gov.uk/self-assessment-tax-returns

Self employed

Self employment or self assessment through a tax return is the easiest way to trade with one return a year at present being submitted to HMRC. There are however many rules regarding what you can and cannot claim so it is important you claim what you are entitled to.

At Gloucester Cloud Accountants we would ensure all tax reliefs and allowances are claimed back.

If you are new to self-assessment tax returns we can register you and act on your behalf as agent to take the hassle out it.

Landlords

Many people own rental properties. Rules are frequently changing and it is easy to get confused. A recent change is the way in which mortgage interest is treated, adding another level of complexity to landlord accounts.

We can prepare property accounts for you and include on your tax return if you have other sources of income. Whether you own a rental property in Gloucester, Cheltenham or elsewhere we can help.

Partnerships

A partnership is a good way for two or more people to trade if you do not want to trade through a Limited company.

It is fairly similar to a sole trader with the only difference being trading profits are split in accordance with the partnership agreement and these profits are entered onto your personal tax return.

Self-Employed/CIS

  • Profit and loss account
  • Tax computation and tax return
  • Help and advice throughout the year
  • From £15 a month

Landlords

  • Profit and loss account and tax return
  • Unlimited email and phone support
  • From £15 a month

Partnership

  • Profit and loss account
  • Unlimited email and phone support
  • Tax return per partner
  • From £30 a month

Capital Gains

When assets such as company shares, and second properties are sold any profits made( or loss ) will need to be reported and the tax due paid to HMRC.

Have you recently sold a property that is not your primary home? If so the capital gain on this will need to be reported and paid within 30 days of completion.

Gloucester Cloud Accountants specialise in capital gains and would be delighted to help. The rules for this are different than other capital gains due to the stricter reporting timeframe.

If you are not sure if you need to complete a return feel free to contact us for a free no obligation chat or quotation.

Commonly asked questions

What is the deadline?

The tax year ends on the 5 April each year with the deadline being the 31 January the following year.

What expenses can I claim?

This will depend on your trade but generally expenses that are wholly exclusive for your trade can be claimed back against your income.

I am self-employed, do I need to complete a return?

If your income is more than £1,000 you will need one completed.

What if I file a return late?

You will receive a £100 fine so best to complete before the 31 January deadline.

Do I need to live in Gloucester to use your services?

No, Although we are called Gloucester Cloud Accountants we can complete a return if you are based further afield.

Get in touch today for a free, no-obligation consultation