Self Assessment Tax Returns

Who must send a tax return ?

HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline, midnight 31 January 2022

You must complete and submit a Personal Tax Return for the tax year 6 April 2020 to 5 April 2021.

If you are self-employed or a sole trader
If you are a higher-rate tax payer
If you are the Director of a limited company and get paid via dividends
If you receive rent or income from property in the UK
If you receive foreign income even if you don’t normally live in the UK
If you receive any form of untaxed income, capital gains or losses
If you have your own pension fund or certain savings/investments
If you receive other untaxed income specified by HMRC

Last year tax return information, sourced by HMRC

What happen if you miss the deadline ?

An initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time;
after 3 months, additional daily penalties of £10 per day, up to a maximum of £900;
after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater; and
after 12 months, another 5% or £300 charge, whichever is greater.
There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months.

Why use MSR Group to do your Tax Return?

MSR Group accountants, we have saved our clients from getting penalty and help to free from stress and confusion.
We have helped to them to reclaim the expenses and tax refund.
Our Personal Tax accountants will complete your return to HMRC on your behalf of you.
Your dedicated accountant will advise you of your tax liability or tax refund
MSR Group will guarantee to complete and submit your return accurately, lawfully and on time
We continue to support and help ongoing personal tax issues.
We will be able to advise you on ways you can legally reduce your personal tax liability.
Enquire about all possible sources of income and advice regarding tax returns along with deadline reminders.
Application for correct tax code from HMRC, in case of error.
Calculation and application of tax credit.
Preparation and electronic filing of tax return.
Sending tax and income calculation through mail.