Employed Individuals

As an employee you tend to meet all your responsibilities to the UK tax regime using the PAYE system, but there may be circumstances that mean you need to look at your tax position. 

There can be instances when submitting a self-assessment tax return can be the best move for reducing your tax liability or because you are obliged to under His Majesty’s Revenue and Customs (HMRC) rules. This might apply where you are employed and: 

• You are self-employed or a partner in a partnership 
• You have large amounts of savings or investment income 
• You have untaxed savings or investment income 
• You own land or property that is being let 
• Your household receives Child Benefit and you have income in excess of £60,000 
• You have income from overseas 
• You have sold or given an asset away (such as a holiday home or some shares) 
• You have lived or worked abroad or are not domiciled in the UK 

Even if some of these activities do not generate a profit (such as rental properties or self-employment), completing a tax return may be compulsory. If a tax return is not required, voluntarily completing one can be beneficial as it could lower your tax bill. 

Financial management with expert taxation services 

TaxAssist Accountants Luton Central provides an efficient and effective taxation service and can guide you through your requirements with ease, offering your reassurance that everything it being handled properly. With a deep understanding of the UK tax system, we can offer a service tailored to you. 

Our tax solution 

We take the worry away when it comes to meeting your responsibilities and deadlines - while still ensuring that you pay only the right amount of tax and not a penny more.

Why choose our tax service?  

TaxAssist Accountants Luton Central can do several things for taxpayers that receive most or all the income from employment, such as: 

• Tax return: Prepare your tax return and check your tax position for you because you: 
• suspect the tax collected by your employer(s) was too high/ low 
• have some untaxed income from savings/ properties or you have income more than £150,000. 
• Job expenses relief: If you have incurred expenses because of being employed, we can complete the claim form or tax return for you to obtain tax relief on them. This might be for items such as business mileage (this excludes commuting to your normal place of work), hotel accommodation/ meals/ business phone calls and professional subscriptions 
• Tax repayment: Make a claim for a tax refund from HMRC on your behalf 
• Tax code review: Check your tax code to ensure it is appropriate- meaning the tax collected by your employer each pay period is appropriate. Checking tax codes where you have multiple employments can be particularly important, as errors can often occur in such circumstances 
• Taxable benefits: Guidance on managing and reporting taxable benefits 

Get in touch  

At TaxAssist Accountants Luton Central we help many employed individuals like you understand their tax position, so call us today on 01582 457 999 or use our online enquiry form.