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Personal Taxation (Individuals, Sole Traders & Partnerships)

The UK operates a compliance based Self Assessment taxation system.

This means that the tax payer is required to submit returns detailing their income and deductions by specific filing dates. Failure to submit returns and pay taxes owed by statutory due dates will result in fines and penalties being levied.

In addition to returns notifications, claims and elections made by the tax-payer must also be submitted within time limits in order to be considered.

The complexity of the current UK taxation system, and the ever changing state of tax case law often means that expert advice is vital in meeting your tax obligations.

James Walsh Accountant Limited can assist individuals and partnerships with their filing and statutory obligations. Such assistance may include:

  • Registration and deregistration as self employed
  • Registration and deregistration for liability to Class 2 National Insurance
  • Preparation of Form SA100 Self Assessment Tax Return for individuals (including any relevant supplementary pages)
  • Preparation of Form SA800 Self Assessment Tax Return for partnerships (including any relevant supplementary pages)
  • Preparation of trading accounts
  • Loss claims and elections
  • Preparation of rental income statements and elections
  • Advice on the treatment of specific transactions
  • Advice on employment status (i.e. IR35, MSC’s, employed verse self-employed etc)
  • Advise on residency issues for UK taxation
  • Assistance with self assessment enquiries and investigations by HM Revenue and Customs
  • Tax and national insurance repayment claims
  • Other tax matters as they arise