A self-assessment tax return reports all your taxable income to HMRC for the tax year to 5 April.
You will need to file a return by the following 31 January to avoid fines and penalties, if you have income not taxed at source (such as a salary).
This can include interest over the free £1,000 allowance, dividends over £5,000 (£2,000 from 6 April 2018), capital gains, rental income and so on. You may also need to file a return if you have total income in a tax year above the basic rate, which is £46,350 for 2017/18, from income other than solely a salary.
SMH can help take the stress out of completing your return, ensuring every box is completed correctly and you take advantage of all the allowances available against your tax. We will also file your return and deal with HMRC if needed on your behalf. Our Clients also get the advantage of reminders and are kept up to date on changes from us.