Analyzing Data

Self-Assessment Returns

Self Assessment is a form that selected business owners need to send to HMRC each year to report their revenue from various sources. 

 

Landlord and property income 

 

As a landlord, you may not know this but you are registered as self-employment by HMRC. If you’re making money from renting out your property you’ll need to file a Self-Assessment tax return.

 

  • We can keep a track of your rental income 

  • We deal with the team at the revenue department on the client's behalf

  • We are adept at claiming allowable expenses on rented properties 

 

Capital gain

 

Capital gain is defined as an increase in the value of a capital asset.

The gain is not matured until the asset is sold completely. A capital gain is either short-term (one year or less) or long-term (more than one year) and must be claimed on income taxes. Know that our team can help you with the process from the very start till the end. 

 

Foreign income 

 

The foreign income exclusion can only be claimed by those who meet the foreign residence or physical presence tests, who have a tax home in a foreign country, and have foreign income.

 

Dividend income 

 

Mutual fund dividends are paid out of income, usually on a 3-monthly basis, from interest generated by the fund's investments. This is also known as a dividend distribution.

 

Salary income 

 

Income from salary is the remuneration received by an individual for services they are rendering or the contract they are abiding by. This clause applies to the remuneration received by a person for the services provided by them.

 

For all your Self-Assessment needs, know that we are here for you.