File Your HMRC Tax Return With Vangarde
Submitting your tax return, whether via paper or online, is the method by which you report all your taxable income to HMRC. This process also allows you to claim any tax allowances you qualify for or any tax refunds you are entitled to. HMRC utilise this information to determine the tax amount you owe or are due to receive. Ensuring your tax return is accurate is crucial, as errors can be expensive, and the process can be intricate and stressful. Take the stress out of this year's tax return with Vangarde.
What are Tax Returns?
Understanding Tax Returns: What You Need to Know
A tax return serves to notify tax authorities about your taxable income, including rental income and capital, along with your expenses and other relevant tax information.
Once this information is submitted, HMRC will determine the total tax amount you owe. If you are self-employed, you will need to complete a self-assessment tax return to handle your allowances.
Tax return regulations can be intricate, making it crucial to understand the information provided. Ignorance of your responsibilities is not a valid excuse to the tax authorities.
Tax returns are not exclusive to the self-employed; there are several situations where HMRC may require a return from you. For example, if you are a company director or earn income beyond your primary job, it’s vital to submit your return on time.
If tax returns sound daunting, don't worry! We can assist you with your return and make the process easy and hassle free!
How do Tax Returns work?
What documentation do I need to fill in my tax return?
When completing a Self Assessment tax return, the required documents will vary based on your personal situation. Key items to have ready include:
- Form P45 if you left an employer during the tax year
- Form P60 that indicates the tax you've paid
- Form P11D any "benefits in kind," like a company car
- Records of any Taxed Award Schemes or redundancy payments
- Information on rental income, expenses, or other untaxed earnings
- Statements for savings and investments
- Comprehensive details of income and necessary expenses from self-employment, along with supporting documents
If you're new to self-employment, you'll also need to register for the Self Assessment system, which requires:
- Personal information (name, address, date of birth, contact details)
- National Insurance number
- Date you became self-employed
- Type and nature of your business
- Business address and phone number
How do I Submit a Tax Returns?
Guide to Submitting Your Tax Return with Vangarde Direct
At Vangarde Direct, we aim to make the process as seamless as possible for our clients. Here's a simple guide on how to submit your tax return and how to do it with Vangarde Direct:
1. Gather your documents: Before you begin the process, make sure you have all the relevant documents and any other income or deduction records. Don't worry we will let you know if you're missing anything
2. If you choose to submit your tax return online with Vangarde Direct, simply login to our portal and follow the step-by-step instructions. You can input your information, upload your documents, and our software will guide you through the process, ensuring accuracy and compliance with tax laws.
3. Review and submit: Once you have completed all the necessary steps, it's important to review your tax return for accuracy.
At Vangarde Direct, we have built-in checks to help minimise errors. Once you're satisfied, you can submit your tax return electronically through our portal or with the assistance of our professionals. Submitting your tax return doesn't have to be a daunting task. With Vangarde Direct, we strive to make the process as smooth and stress-free as possible, ensuring that you meet your tax obligations with confidence.
Experienced Team
Guiding you with expertise and support every step of the way
Our dedicated team is always ready to assist you whenever have questions or need guidance. With our expertise and support, you can navigate the process with confidence. We're here to ensure you have a seamless experience. Trust us to be your reliable partner every step of the way.
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Frequently Asked Questions
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How much does it cost to use Vangarde Direct?The fees vary depending on the service you choose
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Is my personal information secure with Vangarde?Yes, Vangarde prioritises data security and employs measures to protect your personal information.
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How long does it typically take to receive a tax refund?Generally, tax refunds can take anywhere from a few weeks to a couple of months, depending on the complexity of your claim and the processing times of HMRC.
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Am I eligible to claim a tax rebate if I’m self-employed?Yes, self-employed individuals can claim tax rebates if they have overpaid taxes or if they qualify for certain deductions. They will however have to apply via self-assessment. find out more here