Self Assessment
IB&Co Accountants prepares and files Self Assessment tax returns for contractors, freelancers and the self-employed, from our office in Canary Wharf, London. We agree a fixed fee for preparing and filing your return, set out in a written proposal. We help you claim the allowances and expenses you are entitled to and deal with HMRC on your behalf. Any HMRC enquiry work is outside the fixed fee and is agreed with you separately. Landlords can use our Self Assessment service for property owners.
Why is it important?
Completing your self assessment is important because not doing so can result in heavy fines and penalties. Filing late means an automatic £100 penalty, with more penalties the longer it goes on, plus interest and late payment penalties on any tax paid late. If your return is already late, see our late tax returns page. If you use Making Tax Digital for Income Tax, a points-based system now applies to late submissions.
Here Are Some Of The Services We Offer To Contractors, Self-Employed & Freelancers:
End of Year Accounts
Bookkeeping
Liaise with HMRC on Your Behalf
Tax Registration with HMRC
Self Assessment
Why is it important to get it right the first time?
It is vital that your self assessment is completed correctly the first time because depending on the mistake, HMRC can charge a penalty of up to 100% of the extra tax due (more where offshore matters are involved), as well as the tax and interest.
Benefits of using IB&Co accountants
Our team of qualified accountants are experts in self assessment, providing excellent value for money. We prepare your self assessment carefully and file it on time, provided we have your records in good time, and help you claim the allowances and expenses you’re entitled to.
Let us save you the headache of completing your self assessment. Contact us today to see how we can help.
At IB&Co Accountants, we are specialists in self assessment for freelancers and contractors. We take the work of preparing and filing your tax return off your hands, so you can focus on your work.
What you get
We pride ourselves on making things as easy for our customers as possible. At the initial meeting, we spend time getting to know you as an individual, in order to be able to provide the best possible service. For us to complete your return accurately, we need correct records from you. You can either send us your existing and accurate records, or we can take care of that for you with our Bookkeeping service . When we take on your self assessment, we provide:
- An internal meeting
- Advice on appropriate record retention with the option to take on this role on your behalf
- Bookkeeping templates and software at a reduced price
- Advice from a qualified tax adviser, so you claim what you're entitled to and meet your obligations
- Telephone support
- Fixed fee agreement
- Review your contracts and status determination statements under the off-payroll working rules (IR35), and help if you disagree with a client's decision
- Advice on how to complete your self assessment yourself if that is your preference
What we do differently
We provide comprehensive business advice and support, tailored to your unique set of circumstances. We are able to do this because we take the time at our first meeting with you to really understand how you operate.
A Proactive Approach
We continually review your profit and loss balances to analyse any trends from a tax perspective so we can flag tax points early. This means we can spot issues early, for example whether the off-payroll working rules (IR35) apply to a contract, and who is responsible for deciding that.
Specialism
Our team has over ten years’ experience of preparing tax returns for contractors and the self-employed. This is what we do on a daily basis, giving you peace of mind so that you can focus on making more money.
How to get access our service
Request a Call Back or Book a Discovery Call
We take the time to get to know you and your business during the Discovery Call, enabling us to customise a service specifically for you. To get started, simply click the button and complete the form on the booking page. We will then contact you to discuss how we can further assist you and your business.
