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Self-Assessment Tax Returns

Looking for reliable Self-Assessment Tax return services?

 

We specialise in Tax filing for individuals, sole traders, and limited company directors. Our expert Tax accountants ensure that your Tax returns are prepared accurately, maximising potential refunds while minimising liabilities. Whether you need help with Tax calculations, understanding Tax deductions, or submitting your Tax return online, our personalised service covers all aspects of Self-Assessment.

 

Get in touch today to simplify your Tax affairs and ensure compliance with HMRC regulations.

Self Assessment tax returns

Tax Return Filing Services

Start Your Self-Assessment Tax Return Filing Today

To start your Self-Assessment Tax return, follow the Start Now button below, which directs you to our Tax Return Filing page. You'll begin by answering simple questions, providing a foundation for us to prepare your Self-Assessment Tax Return. This initial step only takes a minute, and then our professionals at Ultra Tax Ltd handle the rest!

 

If you encounter any problems filing your Tax return online, you can call or email us, and one of our accountants will assist you.

Reasons You Need to File a Tax Return

There are numerous circumstances under which you might need to file a Self-Assessment Tax return. These include, but are not limited to, the following scenarios:

 

You are self-employed or a partner in a partnership:

Any income earned through self-employment or partnership must be reported.

You hold the position of a company director:

Directors often have income that is not Taxed at source.

You receive substantial savings or investment income:

Income from investments needs to be declared and Taxed appropriately.

You possess unTaxed savings or investment income:

Any income not Taxed at source must be declared.

You own property that is currently being let:

Rental income is subject to Tax and must be reported.

Your household receives Child Benefit, and your income exceeds £50,000:

There is a high-income Child Benefit charge.

You earn income from overseas:

Any foreign income must be included in your Tax return.

You have sold or given away assets, such as a holiday home or shares:

Capital Gains Tax may apply.

You have lived or worked abroad, or you aren't domiciled in the UK:

Your global income may be subject to UK Tax laws.

You earn in excess of £100,000 on PAYE income:

Higher earners often have additional Tax responsibilities.

Self-Assesment Tax Returns

HM REVENUE & CUSTOMS

Self-Assesment Tax Returns

It's essential to note that HM Revenue & Customs staff do not advise on how to organise your affairs to minimise Tax. For accurate Tax management, consult with a professional. Ultra Tax Ltd is fully registered with HMRC as a professional Tax agency. We use HMRC-approved software to:

 

Complete your Tax Return

Calculate your Tax liability

File the Tax Return online

Liaise with you on the amounts to be paid and when they are due

 

Our service analyses your Self-Assessment Tax return for potential Tax savings and addresses any anomalies before submission. Our fixed, competitive price ensures a worry-free experience, allowing you to focus on your business.

5 Best Kept Secrets to Save Money on Your
Self Assessment Tax Returns

Saving money on your Self-Assessment Tax return requires a strategic approach. Here are five best-kept secrets to help you minimise your Tax liability:

 

Utilise All Allowable Deductions

 

Many Taxpayers miss out on allowable deductions that can significantly reduce their Taxable income. Always check for less obvious deductions such as home office expenses, professional subscriptions, and business mileage. Keeping detailed records throughout the year to support these claims is crucial. Ensure you keep receipts, invoices, and any other documentation that validates your expenses.

 

Claim Tax Relief for Charitable Donations

 

If you're making donations to charity, utilise Gift Aid or similar schemes. Donations made through Gift Aid allow charities to claim extra money from the government, increasing the value of your donations and reducing your Taxable income. This is a great way to support causes you care about while also benefiting your Tax situation.

 

Maximise ISA Investments

 

Individual Savings Accounts (ISAs) offer a Tax-free way to save. You don’t pay any Tax on the interest or gains from an ISA, making them an excellent way to shield income from Tax. By maximising your ISA contributions, you can secure a sizeable amount of your savings and investments from Taxes. This is especially beneficial if you are saving for long-term goals.

 

Capital Gains Tax Allowances

 

Take full advantage of your annual Capital Gains Tax (CGT) allowance, which is the amount of profit you can make from selling assets (like shares or property) before you have to pay Tax on it. Planning your sales across Tax years can help manage and minimise CGT liabilities. If you're considering selling significant assets, spreading the sales over multiple years can reduce your overall Tax bill.

 

Use Marriage Allowance

 

If you’re married or in a civil partnership and one of you earns less than the personal allowance (the amount of income you don’t have to pay Tax on), you might be eligible for Marriage Allowance. This allows the lower earner to transfer up to 10% of their personal allowance to their higher-earning partner, reducing their Tax bill. This can be a simple yet effective way to optimise your household’s Tax position.

 

Bonus Tip: Stay Informed and Plan Ahead

 

Tax laws change frequently, and staying informed is crucial. Consider consulting with a Tax professional like those at Ultra Tax Ltd to plan your Taxes effectively throughout the year. Proper planning can prevent rushed decisions and maximise your savings when it's time to file your Self-Assessment Tax return.

tax calculator

Calculate your Tax with our Tax Calculator 

Use our free Tax Calculator to find out your Tax position. Ultra Tax Ltd's advanced Tax Calculator simplifies Tax planning for individuals and businesses in Sunderland and across the UK. Perfect for calculating potential Tax refunds, estimating Tax liabilities, and planning your finances, our user-friendly online Tax calculator provides instant insights. Whether you're a sole trader assessing self-employment Tax or an employed individual looking to claim a Tax rebate, our tools are tailored to help you manage Taxes efficiently.

Self-Assessment Tax Returns:
Simplify Your Filing with
Ultra Tax Ltd

Navigating the complexities of self-assessment tax returns can be daunting for many in the UK. Ultra Tax Ltd is here to demystify the process and guide you every step of the way. Our goal is to make tax filing as straightforward and stress-free as possible.

Understanding Self-Assessment Tax Returns

Self-assessment tax returns are a system HM Revenue and Customs (HMRC) uses to collect income tax. Tax is usually deducted automatically from wages, pensions, and savings. However, for individuals or businesses with other sources of income, filing a tax return is essential to report and pay any owed taxes.

The Importance of Early Filing

Filing your tax return early has significant advantages. It helps avoid last-minute stress, reduces the risk of penalties for late submission, and allows better financial planning. Early filing ensures you know your tax liability well in advance, giving you more time to arrange payment if necessary.

How Ultra Tax Ltd Can Help

At Ultra Tax Ltd, we specialise in providing comprehensive self-assessment tax return services.

Our expert team is dedicated to ensuring your tax filing is accurate, timely, and as beneficial to you as possible.

We handle the entire process, from gathering necessary documentation to submitting your return to HMRC, allowing you to focus on what you do best and give your a stress free experience. 

Why Choose Ultra Tax Ltd?

Choosing Ultra Tax Ltd means partnering with a firm that values clarity, efficiency, and client satisfaction. We dont want your tax return experience to be stressful and dauting. We take pride in our ability to demystify the tax filing process, providing you with clear, straightforward advice and services. Our team is committed to helping you maximise your tax efficiency while minimising stress and anxiety associated with tax returns. If you would like a quick chat with a Tax professional you can always give us a call or email and a Tax professional will be more then happy to come and help you however we can.

Start Your Self-assessment Tax Return Today

Don't let the complexity of tax returns overwhelm you. Ultra Tax Ltd is here to provide the support and expertise you need.

Contact us today to learn more about our services and how we can help you navigate your self-assessment tax return with ease.

How Ultra Tax Ltd Can Help

At Ultra Tax Ltd, we specialise in providing comprehensive Self-Assessment Tax return services. Our expert team is dedicated to ensuring your Tax filing is accurate, timely, and as beneficial to you as possible. We handle the entire process, from gathering necessary documentation to submitting your return to HMRC, allowing you to focus on what you do best and give you a stress-free experience.

 

Our services include:

 

Detailed Tax return preparation

Calculating your Tax liabilities

Submitting your Tax return to HMRC

Identifying potential Tax savings

Addressing any anomalies before submission

Providing ongoing support and advice

Experiencing difficulties with online Self-Assessment?

Not everyone can use the HMRC’s online Self-Assessment service. Certain individuals, including MOD personnel with specific clearance levels, are required to submit their tax returns via paper.

 

At Ultra Tax Ltd, we expertly manage paper-based tax returns, ensuring accuracy and compliance for all our clients, regardless of their circumstances.

Experiencing difficulties with online Self-Assessment?

Whether it’s limited internet access, disabilities that make digital forms challenging, or any other barrier, Ultra Tax Ltd is committed to providing you with the necessary support. Our team is equipped to offer assistance over a range of platforms, including Skype sessions with British Sign Language support for those who are hard of hearing.

Contact us today to discuss your specific needs. We’re here to make sure that your tax filing process is smooth and stress-free, providing tailored solutions to meet your unique requirements.

What if I am owed Tax Back?

If you discover that you're owed money from overpaid taxes, we at Ultra Tax Ltd will make it straightforward to claim your tax rebate.

 

Simply visit our tax rebates page and fill out the provided form to get started.

 

A tax rebate often occurs when you have paid more tax than you are liable for during the tax year. This can happen due to various reasons such as not utilising all your tax-free allowance, overestimation of taxable income, or incorrect tax code applications.

A tax rebate or tax refund provides a means for you to reclaim any tax that you have overpaid. It's essentially the government returning money that rightfully belongs to you, which may have been over-collected through payroll in the case of employment under PAYE (Pay As You Earn) or through direct payments for self-assessed taxes.

For many, this can represent a significant amount of money that could positively impact personal finances.

At Ultra Tax Ltd, we specialise in identifying these overpayments and assisting our clients in reclaiming what is rightfully theirs.

By filling out our simple online form on our Tax Rebates page, you provide us with the initial information we need to assess your situation and calculate the potential rebate.

Our process is designed to be transparent, efficient, and user-friendly, ensuring that you understand every step and feel confident that you are getting the maximum rebate due.

Whether you’re an employee who’s been on the wrong tax code, a sole trader who has made advance payments exceeding their tax liability, or even a retiree who has not fully utilised their personal allowance, our team is here to help.

 

After submitting your information through our form, our tax professionals will review your case, handle all necessary calculations, and get started with your tax rebate from HMRC.

Don’t let the complexities of tax rebates deter you from claiming what you are owed. Ultra Tax Ltd is committed to providing expert guidance and support throughout the entire process, helping you recover any overpaid taxes efficiently.

Visit our tax rebates page today, fill out the form, and take the first step towards securing your refund with the help of our knowledgeable team.

What is Self-Assessment?

Self-Assessment is a method used by HM Revenue and Customs (HMRC) to collect Income Tax. It's a way for individuals and businesses to report their income and calculate their Tax liability. While most income Tax is deducted automatically from wages, pensions, and savings, those with other income sources must file a Tax return.

 

Self-Assessment applies to a wide range of individuals, including the self-employed, company directors, and landlords. Understanding the requirements and deadlines associated with Self-Assessment is crucial to avoid penalties and ensure compliance.

Key Deadlines for Self-Assessment

5 October: Register for Self-Assessment if you’re self-employed or a new partner in a business partnership.

31 October: Submit your paper Tax return.

31 January: Submit your online Tax return and pay the Tax you owe.

 

Missing these deadlines can result in penalties and interest charges. Therefore, it's crucial to mark these dates in your calendar and ensure all necessary information and documents are ready well in advance.

 

Penalties for Late Submission

 

Failing to file your Tax return on time can lead to penalties:

 

1 day late: £100 fine.

3 months late: Additional daily penalties of £10 per day, up to a maximum of £900.

6 months late: Further penalties of 5% of the Tax due or £300 (whichever is greater).

12 months late: Additional penalties, depending on your circumstances, can be as much as 100% of the Tax due.

 

Understanding these penalties underscores the importance of timely filing. Proactive Tax planning and organisation can help avoid these costly penalties.

JOIN US TODAY

Based in Sunderland, our accountants are positioned in the perfect location to assist individuals and businesses across the North East. Join us today in three simple steps

contact Ultra Tax Ltd

Get In Touch

Schedule a complimentary consultation with your nearby accountant, either in person or phone call. This informal discussion aims to acquaint us with your needs and provide insights into how we can assist you.

contact Ultra Tax Ltd

Chat To An Accountant

We transparently outline the available support options and gladly take on the role of business advisors to assist you in the growth of your enterprise.

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Receive Your Fixed Quote

Our charges are set at a fixed rate and customised to suit each individual's requirements. This ensures that you only pay for the precise level of support and services that you need.

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