Tax & Self Assessment for Sole Traders & Small Businesses

The tax year is from 6th april to 5th april the following year.

You need to file a tax return if:

in the last year you were:

  • self-employed or a partner in a partnership

  • you were a company director

  • you received £2,500 or more in untaxed income, e.g. tips, or income from renting out a property

  • your income from savings or investments, including dividends, was £10,000 or more before tax

  • you made profits from selling things like shares, a second home or other chargeable assets and need to pay capital gains tax

  • your income was over £50,000 and you claimed child benefit

  • you had income from abroad

  • you lived abroad and had a UK income

  • your taxable income was over £100,000

  • other reasons as detailed on HMRC website


There are a number of deadlines and responsibilities that tax payers need to be aware of, and completing a filing a tax return can be complicated.  We can take that worry away from you, and by acting as your agent, deal directly with HMRC on your behalf, leaving you time to concentrate on running your business.  It is not the role of HMRC to advise you on how to organise your tax affairs, therefore if you want to make sure you are paying the right amount of tax, why not consult a professional.  Without the proper advice, you could find you pay the wrong amount, and the burden of tax compliance ultimately lies with you and mistakes can carry heavy penalties.  

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