How professional accountants help in filing tax returns in the UK?
Filing a tax return sometimes isn’t as simple as they sound, especially when you are filing the tax return in the UK. UK tax laws have numerous tax codes, which are considered as large in numbers in the world. So, while preparing UK tax returns, things can turn out complicated. You must comply with various tax deadlines and tax responsibilities.
When do you require to file a tax return?
File a tax return when you are:
- Self- employed or partner in a partnership business.
- Company director.
- Having huge investment and savings income.
- Having untaxed savings or investment income.
- Have your property such as land etc.
- Earning income above £50,000
- Having income from overseas
- Proceeds from the sale of the asset or given it as a gift.
- Not domiciled in the UK or leaving /working abroad.
The tax authorities HMRC won’t entertain or advise on your tax affairs. They won’t tell you how to organize your business income and reduce your tax liability. So, to ensure you pay the right tax amount, hire a professional consultant.
Meru Accounting has a team of experienced tax consultants that can help in filing your UK tax return. We cloud-based software approved by HMRC and provide you with remote tax consulting.
We help in
- Completing your tax return.
- Calculation of taxable income.
- E-filing your return.
- Liaison with your regarding the due amount and their due date.
Our qualified accountants analyze your self-assessment tax returns to figure out any possible tax savings. They also review forms to see if variances to be addressed before submission of the tax return.
How do we help in managing tax returns?
While taxpayers feel DIY taxes save their money, however, they some end up paying more taxes. It might be due to a lack of awareness of tax laws or under-qualified tax staff.
Here are some of our ways of handling your tax returns:
- Investment in the pension plan to claim exemption.
- Professional guidance for incorporation for sole trader and partnership.
- Transferring of assets between the spouses to ensure lower tax rates applicably.
- Claim expenses such as rent, repair, and utilities etc. as work home setup expenses.
- The annual Investment allowance for property refurbishments.
- Optimizing the ISA allowances by considering stock and shares.
- Using exemption underpayment of allowance to children
Our entire efforts go into reducing the risk of an HMRC inquiry into tax returns. We can even negotiate with HMRC regarding the payment plan to defer your tax payments, in case you fall short of cash.
Hiring Meru Accountants can be a best and affordable solution. We offer our valuable service at £8 per hour.
Why divert your valuable time? Concentrate more on business.
We take away all your stress about the self –assessment tax.
