Self-Assessment
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sELF-ASSESSMENT 

Filling in the annual self-assessment for can be daunting and time consuming.

Our self-assessment service for individuals focuses on your return being completed in an efficient and timely way. We also make sure that you are paying the right amount. 

Benefits: 

  • ZGet it right first time, don’t be one of the many people who are penalised for mistakes.
  • ZIt can be very complicated; you’ll know you have claimed all the relief and allowances you are entitled to.
  • ZEnsure that all the relevant forms are completed and sent with your return where required.
  • ZWe will ensure your return is submitted on time, if not before.
  • ZWe will remind you of your tax liabilities before the due date of payment.
  • ZAvoid costly penalties.
  • ZOutsourcing can save you time and money.
  • ZIf a tax inspection is initiated, you’ll know you have us in your corner.

Self-Assessment deadlines are on or before: 

  • 31 October for a paper tax return. 

  • 31 January for an online tax return.

Payment deadlines are:  

  • You need to pay any tax you owe on or before 31 January following the end of the tax year. 

Penalties for sending a late tax return: 

  • 1 Day — You’ll have to pay a penalty of £100. 

  • 3 Months — You may have to pay a penalty of £10 a day, for a maximum of 90 days (£900) 

  • 6 Months — You may have to pay a further penalty of 5% of the tax you owe or £300, whichever is greater. 

  • 12 Months — You may have to pay a further penalty of 5% of the tax you owe or £300, whichever is greater – in some cases, you may have to pay up to 100% of the tax you owe. 

These penalties are in addition to any penalties for paying your tax late. 

Penalties for paying your tax late: 

  • 30 Days — You’ll have to pay 5% of the tax you owe at that date. 

  • 6 Months — You’ll have to pay a further penalty of 5% of the tax you owe at that date. 

  • 12 Months — You’ll have to pay a further penalty of 5% of the tax you owe at that date. 

These penalties are in addition to any penalties for sending your tax return late. 

WBV ACCOUNTANTS

Let us handle your Self-Assessment.

WBV Accountants in Swansea and Neath work with exciting and dynamic businesses around the UK, we provide our clients the highest service possible.