Need to prepare a Tax Return?
Not everyone needs to prepare a tax return, and indeed, HMRC are planning to change the whole tax return system and move over completely to a more streamlined and automated process of calculating your tax liabilities (that will consign paper tax returns to history). However, there have been numerous delays and the new ‘Making Tax Digital’ (MTD) regime is being introduced more slowly than originally announced. See our Articles section for the latest information about MTD.
Until Making Tax Digital is fully in force…
You might need to complete and submit a tax return if:
- You are self employed or a partner in a partnership
- You are a company director
- You have large amounts of savings or investment income
- You have untaxed savings or investment income
- You own land or property that is being let
- Your household receives Child Benefit and you have income in excess of £50,000
- You have income from overseas
- You have sold or given an asset away (such as a holiday home or some shares)
- You’ve lived or worked abroad or aren’t domiciled in the UK
Highly experienced taxation experts at Burton Sweet have access to the most current software and systems to complete any tax returns as efficiently as possible. And, whilst the advent of HMRC’s new digital tax system MTD is around the next corner, we welcome the chance to review and report on your likely tax liability at any time throughout the financial calendar. And, when MTD’s digital tax system is full in force, we will still be here to help you with preparing your submissions for your approval.