Every year, thousands of people file a Self Assessment tax return – but many aren’t sure exactly what needs to be included, what deadlines apply, and how to avoid penalties. At Lambert Chapman LLP, we’ve pulled together answers to the most common questions to make the process clearer.
We work locally in Braintree, Maldon and Shoreditch, but also serve clients nationwide. Thanks to secure digital systems, we can prepare and file returns for individuals, landlords and company directors based anywhere in the UK.
Do all company directors need to complete a return?
In most cases, yes. If you’re a director and receive dividends or any other income that isn’t taxed at source, HMRC expects you to file a Self Assessment return.
I only have one rental property – do I still need to declare it?
Yes. Even if you just let out one flat or house, rental income needs to be declared. You can deduct allowable expenses (such as letting agent fees, repairs and mortgage interest relief within current rules) to reduce the taxable amount.
What happens if I miss the deadline?
Missing the 31 January online deadline usually triggers an automatic £100 penalty, even if you owe no tax. Further fines and daily penalties apply the longer you delay. Interest may also be charged on late payments.
Can I reduce payments on account?
Yes – if you expect your income to fall, you can apply to reduce your payments on account. We review this for clients to prevent unnecessary overpayments to HMRC.
How do overseas income and gains fit in?
Foreign income and capital gains must be declared if you’re UK tax‑resident. Double tax treaties may reduce or offset the liability. Specialist advice is essential here to avoid double taxation.
What counts as “qualifying income” for MTD?
For MTD thresholds, HMRC looks at your gross self‑employment and/or property income before expenses. We can calculate this and confirm when you’ll be required to switch.
Can Lambert Chapman help if I’m not based near your offices?
Yes. We work with clients nationwide. Whether you’re in Manchester, Bristol, Edinburgh or elsewhere, we can manage your Self Assessment remotely through secure document upload, video calls and HMRC digital filing.
Why use a professional for Self Assessment?
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Accuracy: avoid costly errors and HMRC penalties.
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Efficiency: save time and stress by letting experts handle the admin.
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Insight: proactive tax planning to improve your financial position.
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Flexibility: support whether you prefer face‑to‑face meetings locally or remote digital services nationwide.
➡️ Ready to get started?
We’d love to hear from you.
📞 Call 01376 326266 (Braintree), 01621 852191 (Maldon) or 020 7148 0872 (Shoreditch London).
✉️ Or email info@lambert-chapman.co.uk for clear, professional advice.
Disclaimer
The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.