For You Company
a Self Employer
Our company can help you with registration as a self employer. Please see our service. Setting up as a self-employed sole trader is the simplest and quickest way to start a one-person business.
LTD Company Registration
Now with our company you can register your LTD company within 6-8 hours. This is on line registration. Your company will be register with your choice of companies’ officers and address. Price starts from £25.00!
PLC Company within 6-8h
Our company will form your PLC company within 6-8 hours. This is on line registration. Your company will be register with your choice all company officers and address. There is only one application to fill out.
Why not a LLP?
Our company will help you to register Limited Liability Partnership. Formation usually takes 7 days. Your company will be register with your choice all company members and address.
Our company will support your company in accountancy and bookkeeping
service. We will care about your TAX, VAT Return. We will process your payrolls, vat applications. We will take care about your finance. Let us help you.
Registered Address Service
Our company offers prestigious street address in central London that can provide a polished image for your business and allow you to keep your business and personal lives separate. If you do not have UK address this is perfect solution for you.
Self assessment is a system for working out and paying tax. You must complete a tax return every year if you:
- are self-employed, either as a sole trader or in a partnership
- are a company director
- are earning enough to pay higher-rate tax
- have complicated tax affairs (for example, if you earn income abroad)
- have made significant capital gains (for example, from selling shares)
- are asked to by HM Revenue & Customs (HMRC)
Self assessment tax returns are issued in April each year and cover the year from the previous 6 April to 5 April. For example, the 2005-06 tax year covers the period from 6 April 2005 to 5 April 2006.
This guide explains the basics of the self assessment system for people who are self-employed, company directors or partners in a partnership.
The forms you need
Normally, HM Revenue & Customs (HMRC) will send you a tax return form automatically if you have to complete one. Even if they don't, it's your responsibility to ask for one if you need it. You may have to pay a financial penalty if you miss the deadline for sending in your return and for paying any tax you owe.
The core tax return
Every self assessment return includes the core tax return (SA100). This is where you give details of any income from savings, investments and pensions. It also allows you to claim any tax reliefs - for example, for pension contributions - and tax allowances, such as the personal allowances.
Most people have to complete one or more sets of additional pages. The most common are:
- Employment (SA101) - if you are an employee or company director
- Self-employment (SA103) - if you are a sole trader
- Partnership (SA104) - if you are self-employed in a partnership
If you have more than one business in which you are self-employed, or a director/employee, you will have to complete separate pages for each.
You may have to complete other pages if you have complicated tax affairs, for example, if you earn income abroad, from letting property, capital gains or trust income. The core tax return includes a list of all the additional pages and explains who needs to complete them.
When to send the forms back
If you need one, you'll normally be sent a self assessment return soon after the end of the tax year. The tax year ends on 5 April every year. You can complete and file your tax return online or on paper.
If you fill in your return on paper and you want HMRC to work out how much tax you owe, you need to send it back to HMRC by 30 September. If you send it back later than this, you'll have to do your own calculations.
If you choose to complete and file your return online, the system will work out and immediately show you how much tax you owe or are owed.
In any case, your return must reach HMRC by 31 January. If you miss this deadline, you will be liable to an automatic penalty of £100. You may also be charged additional penalties and interest on any overdue tax payments. It's a good idea to start completing your return as soon as possible.
Keeping the right records
Keeping the right records is essential. It makes it much easier to manage your business and complete your tax returns. It's also a legal requirement. Everyone must keep records of their income (and any capital gains) for at least 22 months after the end of the tax year. If you're in business and are self-employed as a sole trader or a partner you must keep the records for at least five years and ten months after the end of the tax year. The records you need to keep depend on your circumstances. Make sure you keep enough information to back up what you say on your tax return.
Basic records for individuals should include:
- details of any pay and taxable benefits received from an employer
- bank statements and cheque stubs and paying-in book stubs
- dividend vouchers for any dividends you receive
- information on any state pensions or benefits you receive
You also need to keep records of all your business income and expenditure. This will usually include preparing accounts, although these do not have to be sent with the tax return.