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Self assessment tax returns for sole traders
1. SELF ASSESSMENT TAX RETURNS
FOR SOLE TRADERS
info@bnwaccountants.co.
uk
0208 648 0800141 Morden Road, Mitcham, CR4 4DG
2. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
If you are self-employed you will pay your self
assessment tax return. Here is an overview of the elf-
assessment process and your legal commitments as a
self-employed person.
3. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
You should inform HMRC that you have begun to
exchange and to file a tax return under self-
assessment.
4. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
As an entrepreneur you're answerable for:
• Tracking your business' deals and costs
• Charges for anything you purchase for your limited
company
5. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
• Paying Income Tax on your Profits and Class 2 and
Class 4 National Insurance
• Sending a self-assessment tax return each year
6. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
• Registering for VAT if your turnover arrives at the VAT
limit (right now at £85,000)
• Registering with the Construction Industry Scheme
(CIS) in case you're a contractor or sub-contractor in
the development business.
7. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
• You are not required accountants to submit your tax
return, you can it by yourself.
8. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
• You'll get a fine if you have to send a tax return and
you miss the deadline for submitting it or taking care
of your tab.
9. SELF ASSESSMENT TAX RETURNS FOR SOLE
TRADERS
• It is significant that you comprehend the legal
prerequisites, not just regarding the figures that are
incorporated, but also that penalties.
10. SELF ASSESSMENT TAX RETURNS FOR
SOLE TRADERS
BNW Accountants offers you a fast and most reliable
taxation service and guarantee you to file your Self-
Assessment tax returns on time. It offer services of
accountants in Croydon, Mitcham and all over the UK.