Tax Return is the fiscal declaration through which a company declares its incomes and costs in a fiscal year.
The fiscal year begins on the 6th of April (current year) and ends on the 5th of April (following year).
The Tax Return can be submitted on paper until the 31st of October (current year), or online by using HMRC-approved software until the 31st of January (following year).
If you are employed, then the taxes owed to the state are automatically reserved at each salary through the PAYE system. In that case, you don’t need to complete the Self-Assessment unless you possess a Unique Taxpayer Reference – UTR, and you haven’t announced the HMRC of ending your Self-Employed activity.
Who is obligated to submit Tax Return:
· All Self-Employed people;
· Every person that earns over £2500 by rents, bank deposits / financial income;
· Every company director, etc.
For the most efficient Tax Return services, contact us.