Self-Assessment Tax Returns: Expert Support for Your Tax Obligations
At KPN Accounting, we understand that navigating the complexities of tax regulations can be challenging. While most people have their tax deducted automatically through PAYE (Pay As You Earn) on wages or pensions, others may need to complete a Self-Assessment tax return. This is required for individuals and unincorporated businesses whose tax obligations aren’t fully met through PAYE or other automatic deductions.
Do You Need to Complete a Self-Assessment Tax Return?
In many cases, if your only income comes from wages, pensions, or small amounts of interest on savings, you may not need to complete a Self-Assessment tax return. However, there are exceptions. You will need to file a Self-Assessment tax return if:
Your total income exceeds £100,000 in the previous tax year as an employee or pensioner.
You earned £10,000 or more from savings interest, dividends, or other investment income.
You received £2,500 or more in untaxed income, such as rental income, bonuses, or commissions.
You are self-employed, a partner in a business, or receive income from abroad.
You owe Capital Gains Tax (CGT) on the sale of an asset, such as property or shares.
How We Can Help
For Sole Traders and the Self-Employed
As a sole trader or self-employed individual, completing your Self-Assessment tax return is essential
For International Tax Situations
If you earn income or hold assets overseas, our team can help you navigate complex double taxation agreements and claim Foreign Tax Credit Relief, reducing your global tax liability.
For Capital Gains Tax (CGT)
If you owe CGT from selling property, shares, or other assets, we can assist in calculating your liability and claiming any applicable tax-free allowances or reliefs to minimise your bill.
For Limited Company Owners
If you run a limited company, we can help you manage your company tax return alongside your personal Self-Assessment, ensuring compliance on all fronts.
Why Choose KPN Accounting?
Whether your tax situation is simple or complex, we provide expert guidance and can handle your entire Self-Assessment process, from completion to submission. Contact us today to discuss your needs and ensure your tax affairs are in safe hands.
Let us simplify your tax return so you can focus on what matters most to you.