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Self Assessment

Whether you're self-employed, a high earner, a landlord, or simply earning income outside of PAYE, completing your Self Assessment Tax Return can be complex and time-consuming. Mistakes can lead to HMRC penalties, audits, and unnecessary stress.

Self Assessment is the process by which individuals in the United Kingdom report their personal income and calculate their tax liability to HM Revenue & Customs (HMRC). It is primarily designed for taxpayers whose income is not taxed automatically through PAYE, including self-employed individuals, company directors, landlords, partners in a business partnership, and those receiving investment income, foreign income, or capital gains. A Self Assessment tax return (form SA100) must disclose all taxable income and gains within the relevant tax year, along with any allowable deductions or claims for tax reliefs. For the 2024–25 tax year, the filing deadline for online submissions is 31 January 2026, with paper returns due by 31 October 2025. Late submissions and payments may incur automatic penalties and interest charges. Individuals are also required to make Payments on Account — advance tax instalments — if their previous year’s liability exceeds £1,000 and less than 80% of their income was taxed at source.

Additional complexities may arise for those claiming Gift Aid, pension relief, or working under the Construction Industry Scheme (CIS). Non-resident individuals with UK income or gains, or UK residents with foreign income, may be subject to further disclosure obligations. Navigating the Self Assessment system requires accurate record-keeping, awareness of changing thresholds (such as the dividend allowance or capital gains exemption), and a clear understanding of how different income types are treated. Failing to report accurately or on time can result in HMRC enquiries, estimated assessments, and financial penalties. As personal finances grow more diverse and digital reporting evolves under Making Tax Digital, Self Assessment has become an essential component of responsible tax compliance for millions across the UK.

Who We Help With Self Assessment

• Self-Employed Professionals

• Freelancers & Contractors

• Directors with Dividend Income

• Directors of SMEs & Limited Companies

• Buy-to-Let Property Owners

• Airbnb / Short-Term Let Owners

• Income over £100,000

• Child Benefit High-Income Charge Cases

• UK & Foreign Dividends and Interest

• Capital Gains from Shares, Crypto, or Property

• UK Property Income

• CGT & Income Tax Compliance

• Business Partnerships

• Limited Liability Partnerships (LLP)

• Pension Withdrawals & Lump Sums

• Foreign Income and Domicile Issues

Why choose us for your Self Assessment?

Company tax can be confusing — but with McRock Berkeley, it’s handled with care, clarity, and complete support. Here’s what makes us different:

We take care of the entire Self Assessment process — from registration to final submission — ensuring full compliance with HMRC regulations.

Whether you're a sole trader, director, or landlord, we provide tailored advice on income sources, allowable expenses, and deductions.

We act as your official representative and handle all communications with HMRC, including questions, enquiries, or reviews.

Every tax return goes through our internal checks before submission — reducing errors, avoiding penalties, and ensuring accurate calculations.

Selling property, shares, or crypto? We calculate your gains, apply reliefs, and submit any 60-day CGT reports — all on your behalf.

Own one or more properties? We’ll help you declare rental income properly and claim every allowable deduction — including mortgage interest relief and repairs.

We handle overseas income, determine your tax residency status, and apply double taxation relief where applicable.

View, approve, and manage your tax return securely from anywhere through our online system — with everything kept in one place.

Behind on your taxes? We’ll bring your filings up to date and negotiate penalty relief or payment arrangements with HMRC.

You'll be assigned a named tax advisor — someone who knows your situation, not just a call centre.

Prefer phone, email, or Zoom? We’ll work around your schedule and communication preferences to make things smooth and simple.

Filing for multiple years or for both partners in a household? Ask us about reduced rates for combined filings.

Fixed-fee quotes before we start — no hidden charges, no hourly billing surprises. You always know what you’re paying for.

We don’t disappear after January. Our clients get tax advice and planning help all year long — not just during the deadline rush.

No guesswork. No stress. Just peace of mind knowing your taxes are submitted correctly and on time.

Self Assessment is the system used by HM Revenue and Customs (HMRC) to collect income tax from individuals and entities with untaxed income. While employees under PAYE usually don’t need to file, millions of UK taxpayers must complete Self Assessment every year.

A Self Assessment return declares:

Income (UK and overseas)
Business profits or losses
Rental income
Dividends and investments
Capital gains
Pensions and benefits
Allowable expenses
Tax already paid
Claims for tax reliefs
Your final tax liability is then calculated — and either a balance is paid, or a refund issued

You’ll need to file a Self Assessment if:

You earned over £1,000 from self-employment or freelancing
You earned more than £2,500 from renting out property
You earned investment income, dividends, or interest not taxed at source
You’re a company director receiving income outside PAYE
You’re a partner in a business partnership
Your income exceeds £50,000 and you or your partner claimed Child Benefit
You have foreign income or gains (even if already taxed abroad)
You made capital gains selling property, shares, or cryptoassets
You have trust, estate, or settlement income
You’re a non-resident with UK income

Self Assessment Scenarios We Handle

At McRock Berkeley, we serve a wide range of clients with varied tax profiles:

  1. Self-Employed Professionals

Whether you’re a designer, consultant, contractor or tradesperson — we handle your full tax return, track your expenses, and ensure accurate reporting of your business income.

  1. Landlords & Property Owners

We manage tax returns for landlords with single or multiple properties, including:

  • Buy-to-let landlords
  • Airbnb or holiday lets
  • HMOs and student accommodation
  • Overseas property income

We help you claim mortgage interest relief, wear and tear allowance, maintenance costs, and more.

  1. Directors & Shareholders

Many directors receive income through dividends, benefits-in-kind, and salary. We help structure your return to reflect your income efficiently, claim reliefs, and avoid overpaying tax.

  1. Investors & High Net-Worth Individuals

If you trade shares, crypto, receive dividends or have complex portfolios, our team will:

  • Handle CGT calculations
  • Account for SIPP/ISA tax positions
  • Optimise investment structures for minimal tax liability
  1. Non-Residents & Expats

We assist clients living abroad who receive income from UK property, pensions, or investments. We ensure compliance with non-resident landlord schemes, double taxation agreements, and residency rules under the Statutory Residence Test (SRT).

Here are some commonly missed allowable expenses and deductions that could lower your tax bill:

Category Examples
Business Expenses Home office costs, travel, phone bills, advertising, insurance, software subscriptions
Property Expenses Repairs, management fees, letting agent fees, insurance, council tax (if not paid by tenant)
Pension Contributions Personal pension payments eligible for tax relief
Charitable Donations Gift Aid donations increase the value of your giving and reduce tax
Capital Allowances Claims on machinery, tools, or office equipment
Mileage Approved mileage allowance for business-related travel
  1. Free Initial Consultation
    We assess your situation and advise whether you need to file.
  2. Document Collection & Review
    We guide you through what’s needed and help you collect everything stress-free.
  3. Tax Calculation & Optimisation
    Our accountants review every line item to maximise deductions and apply reliefs.
  4. Submission to HMRC
    We file on your behalf and provide confirmation with a full copy for your records.
  5. Post-Submission Support
    We remain available for HMRC queries, amendments, or audit support.

What Happens If You Don’t File?

Delays and mistakes can lead to harsh penalties:

  • £100 late filing penalty (immediate after deadline)
  • £10 per day fines (up to 90 days)
  • £300 or 5% of tax owed (after 6 & 12 months)
  • Interest charges on overdue amounts
  • HMRC Investigations or tax assessments

Avoid stress, fees, and risk. Let our team file it right — the first time.

Important Deadlines

Task Deadline
Register for Self Assessment 5 October
Submit Paper Return 31 October
Submit Online Return 31 January
Pay Tax Owed 31 January (and 31 July if applicable)

🗓 We track and manage all deadlines for you — never miss a date again.

FAQs

What is Self Assessment and who needs to file it?

Self Assessment is HMRC’s system for collecting tax on income that isn’t taxed at source. You must file if you’re self-employed, a landlord, a company director, or have untaxed income.

How do I register for Self Assessment?

You must register with HMRC online by 5 October following the end of the tax year in which you received untaxed income. We’ll guide you through the full process.

What documents do I need to file a tax return?

You’ll need your UTR number, National Insurance number, income records, expense receipts, bank interest, dividend details, and any capital gains information.

When is the deadline for submitting my tax return?

● Paper returns: 31 October
● Online returns: 31 January
● Tax payment: 31 January (plus 31 July if applicable)

What happens if I miss the deadline?

You’ll be charged a £100 late filing penalty, with daily penalties and interest if the delay continues. McRock Berkeley ensures you’re always on time.

What if I made a mistake in my return?

You can amend your return within 12 months of the original deadline. Our team can submit the correction on your behalf.

Do I have to pay tax on overseas income?

Yes, UK residents must declare all global income. You may be eligible for foreign tax credit relief to avoid double taxation.

Can I claim expenses as a self-employed person?

Yes — common allowable expenses include travel, office costs, equipment, subscriptions, and more. We ensure you claim all you’re entitled to.

I sold crypto/shares/property — do I need to file?

Yes. You may owe Capital Gains Tax (CGT). We calculate your gains, apply allowances, and submit the return correctly.

I live abroad but earn income in the UK — do I need to file?

Yes. Non-residents with UK income (rent, investments, etc.) must often file a return. We assist with NRLS registration and reporting.

Can McRock Berkeley help if I've never filed before?

Absolutely. Whether you’re filing for the first time or need to backdate several years, our team handles everything with full discretion.

Do I need to file if my only income is a salary under PAYE?

Generally no — unless you have additional income (e.g., rental, investments), or your earnings exceed £100,000.

I claimed Child Benefit but earn over £50,000 — what now?

You may need to file a return and repay some or all of the benefit via the High-Income Child Benefit Charge.

How much does McRock Berkeley charge for Self Assessment services?

Our fees start from £120+VAT, depending on complexity. We offer fixed-fee packages for different types of clients.

Will I get support if HMRC contacts me?

Yes — we act as your representative, handle all HMRC communication, and offer full support in case of enquiries or reviews.