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Guide To Your Income Tax Return Services in UK

At Galaxy Accounting, we understand the importance of a stress-free and efficient income tax return in the UK. That’s why we’ve tailored our services to cater specifically to the needs of smaller businesses, sole traders, CIS workers, and individuals.

What is Self Assessment Tax Return?

A self-assessment tax return, often referred to simply as a tax return, is a financial document that individuals, sole traders, smaller businesses, and CIS (Construction Industry Scheme) workers in the UK are required to complete and submit to HM Revenue and Customs (HMRC) each tax year. This comprehensive form serves as a declaration of your total income, including earnings from employment, self-employment, investments, and other sources.

Additionally, it allows you to report any allowable expenses, tax deductions, and reliefs you may be entitled to claim. The self-assessment tax return is a critical component of the UK’s tax system, as it enables individuals and businesses to calculate their tax liability accurately and fulfil their legal tax obligations. It’s essential to ensure that this process is completed correctly and on time to avoid penalties and to potentially identify opportunities for tax savings, making it a valuable service provided by tax professionals and accounting firms like Galaxy Accounting

How We Simplify the Process of Your Self Assessment Tax Return

Galaxy Accounting is committed to simplifying and easing the self assessment tax return process for individuals and businesses. Here are specific ways in which we can achieve this goal:

Intuitive and User-Friendly Interface

We invest in user-friendly online platforms or software designed with simplicity in mind. The interface is intuitive, allowing clients to easily navigate and understand the various sections of the tax return.

Easy-to-Follow Steps: Clearly outlined, step-by-step instructions guide clients through the tax return process, ensuring they complete each section accurately.
Automated Calculations: The software automatically handles complex calculations, reducing the risk of errors and ensuring precise tax calculations.

2. Dedicated Support and Guidance

We provide personalised assistance and guidance throughout the income tax return UK, making the process more approachable for clients.

Professional Consultations: Offer one-on-one consultations with tax experts who can explain the tax return process, answer questions, and provide tailored advice based on the client’s specific financial situation.
Regular Updates and Notifications: Keep clients informed about important deadlines, changes in tax laws, and any updates relevant to their tax returns.

3. Efficient Document Management

Managing and organising documents can be a daunting task. Our team ensures this aspect is streamlined and efficient.

Secure Document Upload: Provide a secure and easy-to-use platform for clients to upload their documents, ensuring all the necessary information is in one place for seamless tax return preparation.
Document Checklist: Offer a checklist of required documents, making it simple for clients to gather and submit the necessary information.

4. Proactive Tax Planning

Help clients optimise their tax position and plan for the future with proactive tax planning strategies.

Tax Optimisation Advice: Offer insights and advice on potential deductions, allowances, and tax-saving opportunities to help clients minimise their tax liability.
Year-Round Support: Provide ongoing tax planning services, not limited to just the tax season, to help clients make informed financial decisions and mitigate tax burdens year-round.

5. Timely and Organised Submissions

Ensure timely submission and organised record-keeping, reducing the stress associated with meeting deadlines.

Deadline Reminders: Send timely reminders to clients about approaching deadlines for submission, reducing the risk of late filings and associated penalties.
Record Retention Assistance: Offer guidance on how to retain and organise tax-related documents for future reference and audits, simplifying record-keeping responsibilities.

Why Choose Galaxy Accounting for Self Assessment Tax Return in London?

Galaxy Accounting, we are team of self assessment specialist understands your problem for filling your tax return on time. We help you to mitigate your hectic task in easy and efficient way.

Specialist Service: We focus exclusively on self-assessment tax returns, ensuring that we are experts in this specific area of tax compliance.
Hassle-Free Process: Our service is designed to make the tax return process as easy and stress-free as possible. We handle all the intricacies, allowing you to focus on what matters most to you—your business and your life.
Speedy Turnaround: Time is of the essence, and we understand that. You can expect a swift and efficient turnaround, ensuring your tax return is submitted promptly.
Great Value: We believe in offering unbeatable value for money. Our services are priced competitively, providing you with exceptional service without breaking the bank.
Tailored for You: Whether you run a small business, operate as a sole trader, work in the construction industry scheme (CIS), or are an individual taxpayer, our self-assessment tax return service is crafted to suit your unique situation.
Expert Evaluation: A licensed accountant will meticulously evaluate your tax return. We go beyond simple data entry, identifying opportunities for potential tax savings and providing you with valuable insights to optimise your financial situation.

How to Register Income Tax Return Online in UK ?

Galaxy Accounting London understands the stress while filling income tax return in UK. That’s why we’ve tailored our services to cater specifically to the needs of smaller businesses, sole traders, CIS workers, and individuals business owners.

Here are Step- by -step Process:-

Step 1: Register for Self Assessment.

Step 2: Get your Unique Taxpayer Reference (UTR) Number

Step 3: Make Sure You Have Gathered Correct Information

Your Unique Taxpayer Reference (UTR)
Your National Insurance number
Records of any expenses relating to self-employment
Full details of income earned from employment which may include your P60, P45 if you left during the tax year, your P11D form, detailing any benefits and expenses you’ve received that weren’t processed through the payroll system, or your P2 coding notice, which explains your PAYE tax code.

Step 4: Fill in the Sections That Apply To You

You will only need to fill out the sections that are relevant to you

Step 5: Submit Your Tax Return Form

You should check back through all the information you’ve entered before you press “Submit” – you can edit everything at any point before this!

Step 6: Keep a Record Of Your Tax Return

What tax return is due January 2024?

The deadline for filing your Self Assessment tax return online and paying the tax you owe for the 2022 to 2023 tax year is 11:59pm on Wednesday 31 January 2024.

Navigating the HMRC self-assessment tax return process can be intricate and time-consuming, but with Galaxy Accounting by your side, it doesn’t have to be. Trust us to handle your tax return, ensuring accuracy, compliance, and potential savings.

Ready to experience a hassle-free tax return journey? Contact us today, and let’s make tax season a breeze.