SELF-ASSESSMENT
from £220 per self-assessment for sole traders
What is self-assessment ?
Self-assessment is used by HMRC to calculate the amount of income tax that you owe.
If you are employed, tax is usually deducted by your employer from your wages via PAYE (i.e. Pay As You Earn), or automatically from your pension or savings. However, you need to report any other income that you receive in the form of a self-assessment tax return once per year.
Business owners who work as self-employed and have not incorporated their business need to submit a self-assessment income tax return to HMRC every year.
If you are a business owner spending ANY time worrying about finances then you DO need a bookkeeper.
As part of the bookkeeping services, I process your monthly transactions so that your accounts are up to date not only for HMRC compliance, but also for an accurate picture of how your business is performing. This includes but is not limited to:
- Processing receipts and payments for all your business bank accounts, credit cards, paypal etc
- Completing bank reconciliations on a regular basis
- Completing the monthly sales tax reconciliations
- Completing the sales and purchase invoices, etc
- Posting and allocation of sales and purchase receipts
- Depreciation and other year end journals
- Accruals and prepayments
- Preparing the annual accounts on a monthly basis so that they be ready for the income tax return calculations.
I’d love to chat with you about how I can support you and your business.
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