UK Self-Assessment
What is a self assessment
Whether you’re self-employed, a company director, landlord or earning multiple incomes, you are responsible for submitting your self assessment tax return to HMRC every year.
At Phinch, we work with individuals and businesses in Bristol and all surrounding areas, such as Bath, Gloucester and Cheltenham with dependable, stress-free self assessment tax returns.
The UK tax year runs from April 6th to April 5th, and your online self assessment tax return must be submitted to HMRC by January 31st following the end of the tax year. Filing early doesn’t just reduce deadline pressure, but also allows you more time to check over your numbers, plan payments and gain more overall control of your finances.
How to register for your self assessment
Registering for self-assessment is not automatic but it is a relatively straightforward process. You can let HMRC know about your situation and why you might need to file a self-assessment tax return online here, or by calling the HMRC self-assessment helpline on 0845 900 0444.
If you are needing to submit a self assessment tax return, you first need to register with HMRC, which doesn’t happen automatically. Generally people are required to register after becoming self employed, receiving rental income, earning dividends or gaining an extra source of income.
Registration can be completed directly with HMRC online, but it’s crucial to ensure you submit the correct details, and that you meet all deadlines. Any errors with this could delay your Unique Taxpayer Reference (UTR), possibly impacting your ability to file on time.
Registration must be complete before October 5th following the end of the tax year in which you become liable to file. You could potentially face penalties and added stress in the future if you miss your deadline.
Working with Phinch ensures this process is complete with full accuracy from the beginning. We help individuals and business owners manage their self assessment registration, their ongoing tax returns and any additional tax planning needs, with dependable guidance every step of the way.
How much does a self assessment accountant cost?
Our fees are tailored to reflect the complexity of your circumstances and the quality of your bookkeeping you provide us. We work on a transparent fixed-fee basis, so you will know for sure where you stand, with no unexpected costs or hidden extras.
If you require multiple services from Phinch, such as tax planning, US tax compliance, outsourced payroll, VAT compliance or the management of your accounts, we can put together a package deal, ultimately lowering the price of each individual service.
Led by a chartered tax advisor, our team delivers specialist tax advice and support at highly competitive rates . We put our focus on value through accuracy, proactive guidance, forward thinking tax planning and consistent communication.
To receive a tailored quote with a fixed rate, please book a call or get in contact to discuss your specific requirements.
A key part of our firm is advising US citizens living within the UK. From navigating the US/UK Double Tax Treaty to managing dual filing requirements with the understanding of how complex international compliance can become.
Our specialist knowledge ensures a clear understanding of your specific situation, without a one size fits all approach.
Testimonials
What our clients say about us
Mike Perry
The whole team are incredibly helpful and great at what they do. I can't recommend them enough!
Malia Brown
Thank you to [The Phinch] team for all your support over the years. It's very much appreciated and valued.
Grace Eden
Excellent guidance through process with a high degree of expertise. A very smooth experience.
John Hatton
My association with Phinch has been a positive one. Their attention to detail and thoroughness has been impressive. Communications in person, online and on the phone have been helpful and expedient, and their patience with my last-minute submission of forms takes pressure off the proceedings.
Jane Jarzebowski
My husband & I returned to the UK after a long period of living abroad. Phinch were highly recommended to us as a business that was both professional and compassionate. We have received excellent advice & support from everyone who has helped us and we continue to do so. Thank you so much to you all.