Banish The January Self Assessment BluesThe majority of our clients need to file personal tax returns, as a result of being a company director (or indeed by virtue of being self employed or a member of a partnership). At Nafs our tax consultants will work with the accounts team, to integrate the information from your company accounts into your tax self assessment return. They will also factor in income from other investments, land or property and overseas assets. For a rough idea on the tax payable if you draw a salary, have a look at our income tax calculator. Our tax consultants work hard to make sure that all legitimate allowances and deductions are factored into the calculation of your tax liability. They will also offer comprehensive tax advice, making sure that you strike the right balance between drawing income as a salary or a dividend, and help you make the most of tax breaks provided by paying a proportion of your income into a personal pension. And by completing your annual accounts in good time, it’s not necessary put anyone through the usual mad scramble to get the self assessment return cobbled together in early January in time for the deadline of 31st. Although we’ll get the tax self assessment return done well in advance, there is of course no need to pay the taxman any earlier than required unless you are feeling particularly generous! |
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