How to pay direct taxes

The main taxes – income tax, capital gains tax, and corporation tax – are administered by self-assessment.

The self-assessment tax return form

This form is sent to all required to complete it just after April 5th each year. (The tax year runs from April 6th to the following April 5th.) The form comes with explanatory notes to help you fill it in properly, and to calculate the tax. There is also a help line to ring if you need help. You can also visit your local tax office for help in filling it in.

If you are employed and this is your only source of income and it is less than £30,000 a year, it most likely that you do not need to fill in a tax return form. To confirm however, you can call the Inland Revenue’s helpline on 0845 9000 444.

Further Information:

The Inland Revenue’s web site is very comprehensive.
www.inlandrevenue.gov.uk

The Institutes of Chartered Accountants and the Association of Chartered Certified Accountants have web sites which can help you find an accountant.

www.chartered-accountants.co.uk
www.acca.org.uk