PERSONAL TAX RETURN
There are a number of situations in which you need to complete and submit a Personal Tax Return. Personal Tax Returns generally need to be completed by those who fall into one or more of the following categories:
- Self-employed or a sole trader
- Pay tax at a higher rate
- Director of a limited company receiving dividends
- Receive rent or income from property in the UK
- Receive foreign income even if you don’t normally live in the UK
- Receive any form of untaxed income, capital gains or losses
- Have your own pension fund or certain savings/investments
- Receive other untaxed income specified by HMRC
COMPLETING YOUR TAX RETURN
Completing a Tax Return can be a time-consuming or stressful task, especially if you leave things to the last minute. There are a number of deadlines to be aware of, and missing these could expose you to late penalties, including additional interest charges on any tax you might owe. It’s therefore important to take the time to ensure your tax affairs are up to date, and you have reported everything you must to the authorities.
WORKING WITH THE FRY GROUP
Our team of tax professionals, many of whom have worked for HMRC, can support you through every aspect of the Tax Return process. This includes liaising with HMRC, completing relevant forms and calculating your tax liability or tax refund. We will check all information with you before submitting all the relevant documentation in good time. To discuss your Tax Return with our friendly team please contact your nearest office.