The Bizbook Ltd | Self-Assessment Services

Our Self-Assessment Services

Simplify your tax obligations with our expert self-assessment services

Self-Assessment Tax Return Preparation

Income Source Reporting

Tax Deduction Maximization

Expense Deduction Tracking

Employment and Benefits Income

Pension Contributions

Tax Payment Advice

Payment on Account Calculation

Tax Liability Review

Tax Planning and Advisory

Tax Return Amendments

Self-Assessment Payment Plans

Late Filing Penalties and Appeals

Year-Round Tax Advice

Digital Tax Accounts

Self-Employment Tax Compliance

Request a Quote

What's the difference between bookkeeping and accounting?

Bookkeeping focuses on recording transactions, while accounting involves analyzing, interpreting, and summarizing financial data to make strategic decisions.
When should I hire an accountant for my business?

Consider hiring an accountant when your business grows, faces complex financial transactions, or requires strategic financial planning.
What are the benefits of having a certified accountant?

Certified accountants have the expertise to provide accurate financial reports, tax planning, and ensure compliance with regulations.
How can an accountant help me reduce my tax liabilities?

Accountants can identify deductions, credits, and tax strategies to minimize your tax burden legally.
What financial reports can accountants provide to help my business?

Accountants can generate income statements, balance sheets, cash flow statements, and customized reports to assess your business's financial health.
Can accountants assist with business valuation?

Yes, accountants can help determine the value of your business for various purposes, such as selling, mergers, or investments.
Do accountants provide advisory services for business growth?

Yes, accountants offer financial advice and strategies to optimize your business's growth and profitability.
What's the role of an accountant during an audit?

Accountants assist in preparing financial documents, explaining financial data, and ensuring compliance during audits.
How often should I consult with my accountant?

Regular consultations, such as quarterly or annually, are recommended to review financial performance and plan for the future.
Can an accountant help me secure business financing?

Accountants can provide financial statements and forecasts to support loan applications and financing decisions.
What is bookkeeping, and why is it important for my business?

Bookkeeping is the process of recording and organizing financial transactions. It's essential for tracking income and expenses, ensuring compliance, and making informed financial decisions.
Do I need to hire a professional bookkeeper, or can I do it myself?

While you can handle basic bookkeeping tasks, hiring a professional ensures accuracy, saves time, and helps you navigate complex financial matters.
What documents should I keep for bookkeeping purposes?

Keep records of invoices, receipts, bank statements, and financial documents relevant to your business transactions.
How often should I update my books?

Regularly update your books, ideally on a weekly or monthly basis, to maintain accurate financial records.
How can bookkeeping help with tax preparation?

Accurate bookkeeping ensures you have the necessary financial data for tax returns, deductions, and credits.
Can bookkeepers help with budgeting and financial planning?

Yes, bookkeepers can provide insights and reports to assist in budgeting and making informed financial decisions
What software do you recommend for bookkeeping?

We recommend software like QuickBooks, Xero, or Sage, tailored to your business's needs.
Is outsourcing bookkeeping services cost-effective for small businesses?

Outsourcing can save time and money compared to hiring a full-time in-house bookkeeper.
Do you offer customized bookkeeping solutions for different industries?

Yes, we tailor our bookkeeping services to suit the unique needs of various industries, including yours.
What's the difference between single-entry and double-entry bookkeeping?

Single-entry is simpler but less comprehensive. Double-entry records each transaction twice, providing better accuracy and insights.
What is the Construction Industry Scheme (CIS)?

CIS is a tax deduction scheme for contractors and subcontractors in the construction industry to manage tax payments.
Who needs to register for CIS?

Contractors and subcontractors in the construction industry should register for CIS.
How does CIS impact subcontractors' payments?

CIS deducts tax from payments made to subcontractors, which they can later offset against their tax liabilities.
What are the compliance requirements for CIS?

Contractors and subcontractors must follow CIS regulations, including verifying subcontractors' status and submitting monthly CIS returns.
Can you help me with CIS registration and compliance?

Yes, we can assist with CIS registration, verification, and compliance to ensure you meet legal requirements.
What is the CIS deduction rate, and how is it determined?

The CIS deduction rate can vary depending on the subcontractor's registration status and other factors, and it is determined by HMRC.
What are the consequences of failing to comply with CIS regulations?

Non-compliance may result in penalties, suspension from the CIS, and difficulties in obtaining contracts in the construction industry.
How can I verify a subcontractor's status under CIS?

Subcontractor verification can be done online through HMRC's CIS online service or by contacting HMRC directly.
Can I offset CIS deductions against my overall tax liability?

Yes, CIS deductions can be offset against your overall tax liability, which can lead to reduced tax payments.
Do I need to register as both a subcontractor and a contractor under CIS?

If you both hire subcontractors and work as a subcontractor, you may need to register for both roles under CIS
What information do I need to provide for setting up payroll for my employees?

You'll need employee details, tax codes, National Insurance numbers, bank account information, and salary details.
How do you handle payroll tax calculations for employees with varying incomes or benefits?

We ensure accurate calculations by staying up-to-date with tax regulations and accounting for variable incomes or benefits.
What is Real Time Information (RTI) for payroll, and how does it affect my business?

RTI requires employers to submit payroll information to HMRC in real time, ensuring up-to-date tax records for employees.
What happens if I miss the deadline for payroll tax submissions?

Late submissions can result in penalties and interest charges, so it's crucial to meet deadlines.
Can you assist with pensions auto-enrolment for my employees?

Yes, we can help you comply with auto-enrolment requirements, including setting up pension schemes and managing contributions.
Do you provide employee self-service portals for payroll management

We can offer self-service portals to employees for access to pay stubs, tax documents, and other relevant payroll information.
What does payroll management entail?

Payroll management involves calculating and processing employee salaries, tax deductions, and benefits.
What are the benefits of outsourcing payroll services?

Outsourcing ensures accurate and timely payroll processing, compliance with tax laws, and reduces administrative burdens.
How do you handle payroll tax compliance?

We handle all payroll tax calculations, reporting, and submissions to ensure compliance with HMRC regulation
What is Self-Assessment tax?

Self-Assessment is the process of reporting your income and calculating tax owed to HMRC if you're self-employed or have income outside of PAYE.
When is the deadline for filing Self-Assessment tax returns?

The deadline for filing Self-Assessment tax returns in the UK is typically January 31st following the tax year-end.
What documents do I need for Self-Assessment?

You'll need financial records, receipts, bank statements, and other income-related documents for accurate reporting.
What income sources should I include in my Self-Assessment tax return?

Include all sources of income, such as self-employment, rental income, investments, and any additional earnings.
What is the penalty for filing a late Self-Assessment tax return?

Late filing penalties can vary, but it's essential to file on time to avoid additional costs.
Do I need to keep records for my Self-Assessment tax return, and for how long?

Yes, keep records for at least five years, including receipts, invoices, and financial statements, to support your tax return
Can you assist with calculating my payments on account for Self-Assessment?

We can calculate your payments on account based on your estimated tax liability to help you manage your tax payments.
What expenses can I deduct when calculating my Self-Assessment tax liability?

You can deduct eligible business expenses, including travel, office supplies, and professional fees, to reduce your taxable income.
Can I file my Self-Assessment tax return online, and how do I do it?

Yes, you can file your tax return online through HMRC's official website or with the assistance of a certified tax professional for accuracy and convenience.
When are tax returns due in the UK?

Tax return deadlines vary, but typically, individuals must file by January 31st, while businesses may have different dates.
What are the key documents and information needed to file a tax return?

Required documents include P60s, P45s, dividend statements, self-employment income details, and rental income records
How can you help me maximize tax deductions on my return?

We identify eligible deductions, credits, and allowances to optimize your tax return legally.
How can I minimize my tax liability when filing a tax return?

Utilize allowable deductions, credits, and exemptions to legally reduce your tax liability.
What are the potential consequences of inaccuracies on a tax return?

Errors on your tax return can lead to penalties, interest charges, or audits by HMRC.
Can you provide assistance if I have income from multiple sources or investments?

Yes, we can help you accurately report income from various sources and optimize your tax position.
How often do I need to submit VAT returns, and what is the deadline?

VAT returns are typically submitted quarterly, with deadlines falling one month and seven days after the end of each quarter.
What VAT schemes are available for small businesses, and which one is right for me?

There are various VAT schemes, such as the Flat Rate Scheme and Cash Accounting Scheme. We can help you choose the most suitable one.
What happens if I make errors on my VAT return?

Correct errors as soon as possible, and consider seeking professional assistance to avoid penalties and interest charges
Can you assist with reclaiming VAT on eligible expenses?

Yes, we can help you identify and claim VAT on allowable expenses, maximizing
What is a VAT return?

A VAT return reports your business's Value Added Tax (VAT) transactions, including sales and purchases.
What are the penalties for late or inaccurate VAT returns?

Late or inaccurate VAT returns can result in penalties, interest charges, and additional compliance obligations.
Can you assist with VAT registration and compliance?

Yes, we can help you register for VAT, file accurate VAT returns, and ensure compliance with HMRC regulations.

Worried About Costs? Let's Talk Budget-Friendly Solutions

Customised Pricing

Our tailored approach to your unique business requirements extends to our pricing strategy. Your investment in our services is a reflection of your business's financial needs and its future trajectory.

Flexibility at its Finest

What sets us apart is our commitment to flexibility. Your pricing will evolve with your business, and we won't impose yearly increases or rigid fees.

No Hidden Costs

To provide transparency and clarity, we offer three distinct pricing structures that align with the service options we propose, ensuring there are no hidden costs.

Tailored Autonomy

We adapt to your current position and evolving needs, giving you the autonomy to decide how much you want to invest in optimizing your business's financial health