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Self Assessment Tax Return

The self-assessment tax return (SATR) regime requires taxpayers to self-assess the amount of tax they need to pay. The SATR is itself a legal declaration of a taxpayer's income and capital gains in any one given tax year, which runs from 6th April through to the following 5th April.

Most employed people will have the majority of their tax payable deducted at source through their monthly/weekly payslips. However, if they have other income or gains such as investment income, rental income from say a buy to let property or gains from share sales, they may need to pay considerably more tax at specified times. The self-employed, partners of partnerships and directors of companies are all likely to be required to complete a SATR.

Tax on their assessed income and gains will normally be payable in advance following the payments on account system at specified times during the year.

Each year there has been a constant stream of changes to the tax legislation. Keeping abreast of the changes is time consuming and changes to the legislation can be difficult to understand.

Charles William will act as tax agent and assist in the preparation of an annual SATR which can save considerable time and effort. To do this they have developed their own special SATR information form for completion. From the information recorded on the form Charles and his team will prepare and review a SATR making the whole process easy for the client.

This will give the confidence that the annual SATR is completed professionally and accurately. In addition Charles William will provide a detailed tax computation of the SATR and written advice of what tax to pay and when to pay it.

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