Personal Tax Return Preparation

Personal Taxation Services

One of the other areas that we specialise in is personal taxation of property. Each year over 8 million individuals are required to complete a self-assessment tax return, of these 8 million over 900,000 file after the deadline of 31 January.

This results in an immediate £100 fine followed by another £100 fine if the return is not made by July, in extreme cases where returns remain outstanding this fine can increase to £60 per day.

In the majority of cases of delayed returns, it is simple because the taxpayer does not realise that they have to complete a self-assessment tax return. Just because you have a job and are taxed at source through the PAYE scheme you are not exempt from completing a self-assessment return.

The following are a few examples of what would trigger the requirement to complete a self-assessment return.

• Income from Land or Property (buy to let, holiday let, renting out a second home)
• Income from a pension and a salary
• If you become a 40% income taxpayer and have savings income
• If you receive income from investments that are not taxed at source
• Income from foreign sources
• Income subject to capital gains tax
• And many others that are less frequent

Indigo can take the pain out of self-assessment, we have the processes in place to deal with large volumes of self-assessment returns and by using these processes and transferring most of the data online we are able to provide this service at an exceptionally competitive cost.

For more detailed quotations please see our dedicated personal self-assessment return site.