self assessment

Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax.  Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income (including COVID-19 grants and support payments) must report it in a tax return.

If you earn any income which is not taxed, it is a legal requirement to submit an annual Self Assessment Tax Return.  Bloomfield Accountancy will help you and advise you on ways of reducing your tax liability if applicable.​  If you don't submit your self assessment or if you don't submit it on time, you will receive a financial penalty from HMRC.