SELF EMPLOYED

Set of Tax Return Services for Self Employed, Freelancers & C.I.S Contractors

Economic conditions and tax laws of the UK are favourable to start a business. However, the registration for self-employment, self-assessment, and other tax-related procedures can be time-consuming. You might find the process of HMRC self-assessment tax return a little bit daunting to handle. If you’re in search of reliable accountants for HMRC self-assessment in the UK, then you are in the right place.

Our professional experts provide the best and affordable HMRC self-assessment services to take off your hassles. Being the expert accountants and tax consultants in the UK, our experts don’t hesitate to go the extra mile to help you throughout the process.

We put our efforts into devising ways of tax mitigation. In addition to this, our top-notch self-assessment and advisory services will make the process of HMRC tax return hassle-free. At SK Accountants and Tax Consultants Ltd., we strive to minimize the risk of HMRC’s interruptions in any tax-related matter.

If you want assistance from our experts in your self-employed registration process, then contact us at your earliest convenience.

To register for the C.I.S, you’ll need:

• your legal business name - you can also give a trading name if it’s different to your business name

• your National Insurance Number

• the unique taxpayer reference number (UTR) for your business

• your VAT registration number (for VAT registered businesses)

You should register within 3 months’ time period with the HM revenue and customs.

Additionally, you should calculate the National Insurance contribution on a yearly basis.

HMRC, however, has terminated this rule from 6th of April, 2019.

Maintain a separate business bank account- if necessary.

You should file the self-assessment return every year without fail. Also, the tax year

runs from 6th of April to the 5th of April every year in the UK.

Pay Taxes as per the profit earned and the tax band in the UK.

Pay £8,424 Class 4 National Insurance Contribution.

In case you are the owner of a company, then you have to set up a PAYE system to collect income tax and National Insurance contributions.