Self assessment

Self assessment is the new system of filing tax returns introduced by the Inland Revenue in 1997. With self-assessment, you prepare figures of your own income and tax reliefs and the Inland Revenue then calculate the tax you should pay, if you file your return early enough. Otherwise, you have to calculate it yourself.

The new system was designed to make things simpler, but the constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.

Cohen Arnold can save you a lot of time, worry, and money by handling your self assessment for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability.

We can act as your agent, dealing directly with the Inland Revenue on your behalf and, should you be selected for a self assessment enquiry, act for you in this respect.