Filing Return Articles

Filling in your own tax return? Look out for this important tip that could save you thousands.
marketing | 13 January 2016
/ / / /

Here at Umbrella Accountants we’ve seen a number of instances recently where clients have chosen to complete their own self-assessment tax returns but completed them incorrectly resulting in large tax bills.

It’s vitally important to understand that being a Director and Shareholder of a Limited Company doesn’t class an individual as being “Self-Employed”.  If these sections are completed using information from the Limited Company accounts it can result in not only a nasty tax bill but also charges for Class 4 National Insurance that can also run into thousands.