In the UK, it is an individual’s responsibility to ensure they are paying the correct amount of tax to Her Majesty's Revenue and Customs (HMRC). This is done through completing a self-assessment tax return, or personal tax return as it is also referred to and is a legal obligation.

Ridgefield Consulting is an independent firm of Chartered Accountants based in Oxford and has been providing comprehensive quality self-assessment tax return service since 2010. As part of the service we are able to help by:

  • Confirming your tax status and whether or not you need to complete a personal tax return for the year
  • Registering you for self-assessment if it is your first time
  • Explain what records and documentation you need to keep throughout the year, and provide to us so that we can calculate how much tax you will need to pay
  • Ensure different sources of income are declared to make sure nothing is missed out from your tax return that could result in tax investigations or penalties
  • Accurately calculate your tax liability for the year, as well as identify all deductions that can be made to reduce your tax bill as much as possible
  • Send you a copy of your calculated tax return with a summary explaining how we have made the calculations for you to review, approve and sign
  • Once you are happy with your tax return, we will help you submit it to HMRC to ensure correct filing by the deadline
  • Provide a copy of your tax return for you to keep, but also keep a digital record ourselves should you ever need a replacement
self-assessment tax return

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Check to see if you need to use this service

Not everyone is required to complete a self-assessment tax return as income can be taxed at source, such as when someone receives their sole income through a salary from employment. However, if you receive any additional income outside of this you may need to register for self-assessment. We would recommend this service to the following people:

  • Anyone who is self-employed or a partner in a partnership business
  • Ministers of religion from any faith or denomination
  • Those who receive regular income from a trust or settlement
  • A person who has taxable foreign income regardless of whether they are a resident in the UK
  • If you have income from savings or investments of £10,000 or more before tax
  • A couple who receive child benefits where at least one earns an income of over £50,000 (the person who is earning over the threshold, or whoever earns the most if both earn over the threshold, is required to complete the personal tax return)
  • Landlords who receive rental income
  • You incur capital gains tax through sale or disposal of an asset
  • High earners who receive over £100,000 a year

There may be other reasons why you would need to complete a self-assessment tax return. Where this is the case HMRC will get in touch with you by post to send you notification. If you are still unsure of your position and believe there is good reason you do not need to do so you may want to speak with us to double check.

Who does Ridgefield Consulting work with?

Ridgefield Consulting is based in Oxford and we are conveniently located to serve those in Abingdon, Witney, Bicester and surrounding Oxfordshire areas. However, we do have full capability to serve clients further afield and regularly visit clients in locations such as London, Birmingham, and the Cotswolds.

We have a strong client base of business owners, either as sole-traders or limited company directors, with businesses of all sizes and from different industries, but we do in particular have specialist expertise in supporting high-innovation start-ups. We also have a wealth of experience of working with landlords, providing advice on how to manage a portfolio of investment properties as well as guidance on allowable expenses.

We do welcome clients from different backgrounds and always offer the first consultation free of charge so that we can introduce ourselves, find out more about you, and give you a chance to see if we would be a good fit for your needs.

What are the benefits of using an accountant for a self-assessment tax return?

Whilst some people do choose to complete their personal tax returns themselves, we would only encourage you to do so where you are confident that your tax liability is simple and straightforward.

By using expert chartered accountants for this service, you can receive further benefits:

  • Free up your own time having to calculate and submit your tax return
  • Peace of mind and reassurance that taxes have been calculated correctly
  • Save money through using experts with the knowledge and experience in spotting opportunities to reduce your tax bill
  • Avoid missing the deadline with timely reminders from your accountant
  • Ensure you are always kept up-to-date and well-informed on any tax changes that apply to you
  • Get support with any communications you receive from HMRC that you may need help with
How much does Ridgefield Consulting charge for a Self-Assessment Tax Return?

Ridgefield Consulting does not operate on fix-fee charges. That’s because we don’t believe anyone should have to pay for more than what they need. Every client we meet has different requirements so we instead prefer to take the time to understand what it is that you want to achieve, how much involvement you want from us as your accountants and allow you to create your own bespoke service package. When we meet with you during a free of charge introductory consultation, we let you explain what it is exactly that you’re looking for. We’ll then provide you with a line by line quote (we strive to do so within two working days) so that our fee is completely transparent to you.

> What to do if you want to use Ridgefield Consulting

 

The very first step is to get in touch with us! Give us a call or complete the contact form below. Let’s arrange a convenient time for you to meet with us and go from there.

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