While you focus on what you do best, we’ll handle what we do best: ensuring your tax compliance and taking the stress out of your annual self-assessment.
Let’s be honest, your self-assessment tax return is usually an unwelcome distraction from your priorities. That could be running a business or managing a property portfolio. At Gravitate, we know that success comes from playing to your strengths while collaborating with others who can take the strain away in other areas.
We will handle your tax compliance and remove the stress from your self-assessment. This means gathering all the information needed to file with HMRC, on time, and avoiding any errors or potential penalties.
We promote the benefits of filing tax returns early to allow you to plan for future tax payments.
Gravitate works with a variety of self-assessment taxpayers, including:
Making Tax Digital will soon be mandatory for self-employed individuals and landlords. It will be staggered, and not everyone will need to enrol right away, but it is important to be prepared. There are three key upcoming dates after which people will be affected.
Even if you're not required to opt in yet, maintaining digital records early allows you to get comfortable with the software and processes at your own speed. This can help ease the transition and reduce the risk of errors later.
This is something our team will be happy to help you with!
We love our clients and they love us too, here are a few testimonials from our clients about our services.
A Self-Assessment tax return (SA100) is a form used by HMRC to collect income tax from people whose tax isn’t deducted at source (i.e. not PAYE). SATR includes self-employed people, landlords, company directors, and those with additional income sources.
Paper returns must be filed by 31st October after the end of the tax year. For online return it is the following 31st January. Tax payments must be made by 31st January (if balancing payments) and 31st July (for payments on account).
If Self-Assessment tax return deadlines are missed, penalties will apply. This includes a £100 fine if you are up to 3 months late, with additional daily penalties following that. Interest will also be charged on all unpaid tax.
Yes, certain allowable expenses can be claimed as part of your self-assessment tax return. These include office costs, travel and mileage, marketing and advertising, insurance, business premises costs, and professional fees.
If you make an error in your tax return, you may amend the tax return within 12 months after the 31st of January deadline by logging into your HMRC online account. When working with Gravitate, we will ensure your tax returns are completely free of errors!