Professional Personal Tax Return

We provide expert Personal Tax Return services across Scotland, including Edinburgh, Glasgow, and other major cities. We summarise the self-assessment rules, penalties for non-compliance, and ensure that your tax obligations are managed professionally. Whether you’re self-employed, a company director, or simply require assistance with filing, we’re here to help you every step of the way.

Understanding Self-Assessment and Tax Obligations

Under the self-assessment regime, individuals are responsible for calculating their tax liability and ensuring all taxes owed are paid on time. Our dedicated team can prepare your personal tax return on your behalf, provide tailored advice, and ensure compliance with HMRC regulations.

The Self-Assessment Cycle

Tax returns are issued shortly after the fiscal year ends. The fiscal year runs from 6 April to 5 April, and for 2024/25, tax returns must be filed by:

• 31 October 2025 (if submitted in paper format)
• 31 January 2026 (if filed online)

If you’re self-employed, a company director, or fall within HMRC’s criteria, you will be issued a tax return or notice. If you’re not issued one but owe tax, it’s essential to notify HMRC promptly.

Penalties for Late Filing

Failing to meet deadlines can result in significant penalties:

• £100 penalty immediately after the deadline.
• Over 3 months late: A daily penalty of £10 (up to a maximum of £900).
• Over 6 months late: An additional £300 or 5% of the tax due, whichever is higher.
• Over 12 months late: A further £300 or 5% of the tax due, or even 100% of the tax due in serious cases.

Our Services in Edinburgh and across Scotland help you avoid these penalties by ensuring your return is accurate and submitted on time.

Calculating Tax Liability and ‘Coding Out’

Taxpayers can ask HMRC to calculate their tax liability if returns are submitted by 31 October (for paper submissions) or by 30 December (for online submissions with ‘coding out’). We ensure your tax return is prepared efficiently, so you meet these deadlines.

Amendments and Enquiries

HMRC may correct errors or inquire into returns. If this happens, we provide comprehensive support:

• Assist with any amendments required (within 12 months of filing).
• Represent you during any HMRC enquiry and respond to queries professionally.

We ensure all relevant records, such as income, expenses, and reliefs claimed, are maintained and available should HMRC conduct an enquiry.

Checklist of Records for HMRC Enquiry

To stay compliant, it’s important to maintain accurate records. Here’s what you may need: For Self-employed and Directors:

• Business expense receipts.
• Source of Business / Income.
• Interest, dividends, and gift aid documentation.

For Businesses:

• Invoices, bank statements, and receipts for expenses.
• Details of personal drawings.

We guide you on record-keeping to ensure your tax affairs are always in order.