Self Assessment Services

What is Self Assessment?

Self Assessment is a system used by HM Revenue and Customs (HMRC) to collect Income Tax. Tax is usually deducted automatically from wages, pensions, and savings. However, people and businesses with other income must report it in a tax return.

Who Needs to Complete a Self-Assessment Tax Return?

You need to submit a self-assessment tax return if you fall into one or more of these categories:

Company Directors: Directors of limited companies, regardless of income
Business Partners: Partners in a business declaring their share of profits.
Landlords: Receiving rental income.
Pension Contributors: Higher/additional rate taxpayers paying into a personal pension.
Untaxed Income: Income from savings, investments, or overseas.
Capital Gains: Selling assets and realizing taxable gains.
Self-Employed: Running your own business or freelancing with earnings over £1,000.
High Earners: Earning over £100K in 2022/23 or £150K from 2023/24 onwards
Child Benefit Recipients: Earning over £50,000.
Claiming Tax Reliefs: Wanting to claim certain tax reliefs.
Pension Payments: Receiving certain pension lump sums or incomes.
Notified by HMRC: Received a notice to file a tax return.

Our Self Assessment Services Include

We specialize in handling all aspects of your tax obligations with precision and expertise, ensuring compliance and peace of mind

Income Reporting: Accurately record and categorize all income sources.
Capital Gains Reporting: Calculate and report capital gains, ensuring HMRC compliance
Self Assessment Tax Return: Efficiently compile and complete your tax return.
Payment of Taxes: Guide and support timely tax payments.
Expert Advice and Support: Offer proactive tax planning advice tailored to your needs.
Comprehensive Support: Guides you through every step of the process.
Expense Tracking: Track and categorize deductible expenses to maximize tax efficiency.
Tax Allowances and Reliefs: Optimize tax allowances and reliefs to minimize liabilities.
Tax Calculation and Submission: Precisely calculate and submit your tax liability on time.
Record Keeping and Compliance: Maintain organized records and ensure HMRC compliance
Accuracy: Ensures accurate and timely submissions.
Commitment to Excellence: Dedicated to high-quality service.

Magnum Accountancy

Client Reviews

Edward Stanger
Edward Stanger
First time with Magnum in 2024 for some self assessment support and they were super helpful, really fast and great value. thank you
Ivan Latunov
Ivan Latunov
Daxa did my pension contribution calculation and also prepared and submitted my Self Assessment. She was very quick, basically did the whole Self Assessment in the same day. Altogether, I am very pleased - very accurate and fast service. Highly recommended.
Bill Burton
Bill Burton
Great service and prompt responses to enquiries
Ravi S
Ravi S
Daxa was extremely helpful, her along with the expert team at Magnum Accountancy helped me with my first set of company accounts. I initially found this process daunting I spoke to many accountants across London all who barley answered any of my questions nore could they provide me with certainty. Then I came across Daxa she exceeded all of expectations by answering all of my questions, patient and actioned my request with a extremely quick turn around all at a reasonable price point. I will continue to use Daxa and her team for my future projects and will be recommending her to all of my friends, family and clients!
Richard Matthews
Richard Matthews
Daxa at Magnum Accountancy has demonstrated exceptional professionalism and efficiency in submitting this years and rectifying my previous HMRC self-assessment tax returns. The meticulous attention to detail and proactive approach not only corrected previous errors on my part but also ensured the timely submission of accurate documents. Daxa's expertise and commitment have alleviated any concerns I had, fostering confidence in Magnum Accountancy's services. I am grateful for her dedication to excellence and appreciate the peace of mind that comes with having a reliable and knowledgeable professional managing my tax affairs from now on. Daxa's outstanding service reflects Magnum Accountancy's commitment to client satisfaction and sets a commendable standard in the industry.
Alyson Hancock
Alyson Hancock
Really efficient service, I submitted my documents and within the hour my tax return was done. Saves so much hassle (and getting things wrong!) thanks Daxa
Ian Turpin
Ian Turpin
I found the service very efficient, Daxa took time to explain the process and provide excellent customer service also.
Martin Wright
Martin Wright
Having just completed my first year of freelance working after many years of full-time employment I needed support to ensure that my tax return was completed correctly. I was a little unsure about appointing accountancy services but found the personal and approachable services provided by Magnum Accountancy to be extremely helpful, understanding and reassuring.
Mohammed Mahmud
Mohammed Mahmud
They have shown a good commitment and professionalism to my self assessment and welcoming any queries or concerns that I may have. I believe I will continue performing my self assessment with them next year or any accounting services.
Ciaran Mclaren
Ciaran Mclaren
Highly recommend Magnum Accountancy! This was my first time submitting self assessments, Daxa made the whole process simple and stress free. Thanks Daxa!

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