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Mastering Self-Assessment Tax Returns: A Comprehensive UK Guide | Altaxa

April 02, 20232 min read

Facing the UK's extensive tax code can feel like braving a storm without a compass, especially when preparing your self-assessment tax return. From understanding various deadlines to knowing your responsibilities, each step can seem overwhelming. This guide aims to navigate these turbulent waters and make the process more manageable.

Common Triggers for a Required Tax Return

Several scenarios may require you to submit a self-assessment tax return. Some of the most common ones include:

  • Being self-employed or a partner in a partnership

  • Acting as a company director

  • Having large amounts of savings or investment income

  • Having untaxed savings or investment income

  • Owning land or property that is being let

  • Having a household income in excess of £50,000 while receiving Child Benefit

  • Earning income from overseas

  • Selling or giving an asset away (such as a holiday home or shares)

  • Living or working abroad or not being domiciled in the UK

Why You Need Professional Help

While the staff at HM Revenue & Customs can provide some guidance, they aren't tasked with advising you on how to organise your affairs to minimise your tax. For expert advice and peace of mind, it's best to consult a professional.

Our Approach at Altaxa

At Altaxa, we take pride in our proactive approach to help you fulfil your tax obligations efficiently. Using HM Revenue & Customs-approved software, we:

  • 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

Minimising Your Risk

We're not just about filing your returns. We also analyse your self-assessment tax return to identify any tax savings and anomalies that need to be addressed before the return is submitted. This proactive approach helps to minimise your risk of a HM Revenue & Customs enquiry into your tax affairs. If you're experiencing cash flow problems, we can explore options for deferring your tax payments or negotiating a payment plan with HM Revenue & Customs on your behalf.

Our Pricing Policy

Understanding the financial strain of managing a business, we offer our services at a fixed, competitive price. We aim to take the worry away when it comes to self-assessment tax returns, so you can concentrate on what you do best—running your business.

Are you ready to take the stress out of self-assessment tax returns? Trust Altaxa to manage your tax affairs effectively and ensure your compliance. Contact us today to learn more about our services.

Self-Assessment Tax ReturnsUK Tax CodeTax Return GuideTax Return TriggersTax Liability CalculationOnline Tax Return Filing
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Get In Touch

  • Hillview Road, High Wycombe, HP11 6XY

  • Mon - Sun | 9:00am - 6:00pm

  • 07888 873739


Get In Touch

  • Hillview Road, High Wycombe, HP11 6XY

  • Mon - Sun | 9:00am - 6:00pm

  • 07888 873739


Altaxa Accountants Ltd

Altaxa Accountants Ltd is a company registered in England and Wales with the company number: 12501624, whose registered office address is: 33 Hillview Road, High Wycombe, England, HP13 6XY.