Self-assessments

At Fortuous, we believe in commitment and care. Commitment to being pro-active problem solvers, not just passive number crunchers and personal care for each and every client and their business.

The most common reasons that people need to fill in tax returns

• You are self-employed (or a partner in a partnership)
• Your annual income is more than £100,000
• You have income from savings, investment or property:
• £10,000 or more from taxed savings and investments
• £2,500 or more from untaxed savings and investments
• £10,000 or more from property (before deducting allowable expenses)
• £2,500 or more from property (after deducting allowable expenses)
• You have income from trusts, settlements and estates
• You are a trustee
• You have capital gains tax to pay
• You need to claim reliefs or expenses
• You or your partner receive Child Benefit and your income is over £50,000

 

The High-Income Child Benefit tax charge was introduced on 7 January 2013 and may mean you need to complete a Self-Assessment tax return. You must complete a tax return if all of the following apply:

 

• your income is over £50,000 a year
• you live with a partner and your income is higher than theirs
• you or your partner are entitled to receive Child Benefit (or get an equivalent amount from someone who claims Child Benefit for a child who lives with you)
• you jointly decide to keep receiving Child Benefit and pay the new tax charge
• you get income from overseas
• you have lived or worked abroad or are not domiciled in the UK
• you are a company director, minister, Lloyd’s name or member
At Fortuous we use HM Revenue & Customs-approved software to:
• Complete your tax return
• Calculate your tax liability
• File the return online
• Liaise with you on the amounts to be paid and when they are due

 

As part of the above service, we can analyse your self-assessment tax return to see if any tax savings can be made and we can also review the form to see if there are any anomalies that need to be addressed before the return is submitted.

This process helps to minimise your risk of a HM Revenue & Customs enquiry into your tax affairs. If you are experiencing cashflow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with HM Revenue & Customs on your behalf.

By giving you a fixed, competitive price, we can take the worry away when it comes to self-assessment tax returns; allowing you to concentrate on running your business.

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