Self Assessment tax returns without the January chaos
Every year, hundreds of thousands of people submit their Self Assessment tax return on the deadline day, despite having months to get it sorted. The chaotic scramble for submissions can result in mistakes being made, resulting in overpaid tax bills or HMRC penalties.
Prime Accountants is an independent firm working to improve the tax situation for those who handle their Self Assessment tax returns. Our tax advisers are trained to the highest level and kept up to date with the latest legislation, so they can keep you tax-efficient and fully compliant.
Ready to hand your return to people who keep every deadline on track?
How our Self Assessment service works
Who it’s for
Our Self Assessment tax return support is for anyone with income that HMRC doesn’t already tax at source. This includes self-employed individuals, sole traders, company directors, landlords and anyone with capital gains or dividend income. If you’ve had a P800 from HMRC, a nudge letter, or you’re not sure whether you need to file this year, this service is built for you.
When to bring in Self Assessment support
- You’ve become self-employed, taken on a directorship or started renting out a property for the first time.
- You’ve sold a property, shares or other asset and may owe Capital Gains Tax (CGT).
- You receive dividend income, or your income has grown enough that the High Income Child Benefit Charge now applies.
- You’ve missed a previous year’s deadline and need to get compliant with HMRC.
- You’d rather not endure another stressful submission with the January deadline looming over you.
How does filing work?
A Self Assessment tax return is the return you must submit to HMRC each year if you owe tax on income that hasn’t already been taxed through PAYE, such as self-employment income, rental income, capital gains or dividends. Payments on Account (POA) are advance payments that some taxpayers make twice a year towards their next tax bill, based on the previous year’s liability.
Each return follows the same steps:
- You send us your income and expense records.
- We prepare your return and calculate your liability.
- We file it online with HMRC on your behalf.
We’ll confirm exactly what you owe and when it’s due well before the deadline.
If this is your first time filing, there’s a step people often miss: you can’t register for Self Assessment online until HMRC has issued your Unique Taxpayer Reference (UTR), and that can take around six weeks to arrive by post once you’ve registered. This means that if you only register in January, ahead of the 31 January filing deadline, your UTR may not arrive in time for you to file. The earlier you register, the more breathing room you have.
How long does a return take?
Most returns are prepared and ready to review within 15 working days of receiving your full records, with online filing confirmed to you as soon as HMRC accepts the submission. The registration deadline for anyone filing for the first time is 5 October, following the end of the tax year, and missing it can mean HMRC charging a penalty. The earlier we have your information, the more time we have to plan around your bill and help you decide how and when to pay it. If you’ve already missed the 5 October deadline, we can still help you get your UTR issued and your return filed by 31 January, but registering in good time gives you far more room to get it right.
What does Self Assessment cost?
Self Assessment fees depend on the complexity of your income. The fees will be impacted by factors such as whether you have one income source or several and whether property or capital gains are involved, so we’ll always confirm a fee before we start any work. As part of our range of personal accounting services, Self Assessment advice is provided on an affordable basis alongside any wider Income Tax, CGT or Inheritance Tax (IHT) planning you need.
What changes once your return is handled
- Your return is filed accurately and on time.
- A clear answer is given on what you owe and when it’s due, well ahead of the 31 January deadline.
- Penalties and interest are avoided through early, correct filing.
- The stress of the approaching deadline is removed once you have a clear grasp of your tax obligations.
Why individuals and directors choose Prime
Anyone can fill in a tax return, but not everyone can do it with confidence. Expert support ensures you are tax-efficient and compliant, able to utilise available reliefs to keep your tax bill manageable.
Our recent Self Assessment work
Two partners in a partnership, turned company directors
- Working with Prime for over 20 years
- Started with Prime filing straightforward partnership and individual tax returns
- Now supported with returns covering salaries and director’s dividends, payment on account, company accounts, corporation tax filings and VAT
- Returns are prepared and filed alongside the company accounts each year
If you’d like to see how we’ve helped someone in a similar position, our team can talk you through a comparable example on a call.
Want a tax adviser who can grow with your circumstances?
What our self-assessment clients say
“Swift, professional and accurate service from Paislei and her team to help me with a tax return. Would highly recommend.”
“A professional and friendly company who invest time to understand our business, needs and aspirations whilst at the same time providing an invaluable service to our organisation.”
