Navigating Self Assessment can be daunting, especially when you're balancing the demands of running a business or managing rental properties. As a qualified bookkeepers, we specialise in simplifying the tax return process for sole traders and property rental owners.
What We Offer
Self Assessment Tax Returns (SA100): Efficiently prepared for sole traders and landlords, ensuring compliance and accuracy.
Property Income Reporting (SA105): Detailed reporting for rental income, including allowable expenses such as repairs, insurance, and agency fees.
Clear Communication: We take the time to explain your tax position in straightforward terms, helping you understand your obligations and entitlements.
Timely Filing: I ensure your returns are filed on time, helping you avoid penalties and interest charges.
🏠 For Property Rental Owners
If you earn over £1,000 from renting out property, you must declare this income on your Self Assessment tax return. This includes income from furnished holiday lettings and subletting. You can deduct allowable expenses such as maintenance costs, insurance, and professional fees to reduce your taxable profit.
💼 For Sole Traders
As a sole trader, you're required to file a Self Assessment tax return if your income exceeds £1,000. This applies to various professions, including freelancers, consultants, and small business owners. I can assist in reporting your income and allowable expenses, ensuring you pay only the tax you owe.
Important Deadlines
5 October: Register for Self Assessment if you haven't already.
31 October: Deadline for paper tax return submissions.
31 January: Deadline for online tax return submissions and payment.
Missing these deadlines can result in penalties, so it's crucial to stay on top of your filing schedule.
Please note, we are not currently offering partnership or limited company accounts and tax returns, nor self-assessments which include foreign income or capital gains.
Contact us today and start enjoying the benefits of stress-free bookkeeping!
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