Self Assessment Tax Accountants

Helpful and informative self-assessment tax advice in Brighton

 

As your tax returns are so vital, the help of a self-assessment accountant can ensure you keep up with the ever-changing landscape of the personal tax regime.

It’s important you stick to the strict self-assessment deadlines. If you miss one, HMRC can impose penalties for late submission and payment.

As you would expect from a firm of chartered accountants, our self-assessment service will provide you with the guidance and advice you want.

We’ll ensure your tax returns reach HMRC on time, every time, with pinpoint accuracy. The last thing you want is to incur a fine or even spark a tax investigation. We won’t let that happen.

Understanding your affairs

Our genuine interest in you and your affairs makes us stand out from the crowd. We take time to understand what is important to you and tailor our services and advice to your needs.

We work on a fixed fee basis, and once we understand your circumstances and requirements, we can provide you with a quote.

Self-assessment accountants for every situation

There are different criteria for submitting a self-assessment tax return, and you will need to file a tax return if you:

    • are self-employed
    • have an annual income of more than £100,00
      or your partner claim child benefit, and either one of you has an income of more than £50,000 per year
    • own buy-to-let properties
    • have income from savings and investments in excess of £10,000
    • receive income from overseas
    • earn income from an estate or trust
    • have sold an asset, and capital gains tax is payable.

Whatever your personal tax requirements are, we can help you with them.

We have an extensive network of trusted professional contacts who we can introduce you for help in the following areas:

    • personal financial planning
    • retirement planning
    • legal assistance, including conveyancing, preparation of wills and power of attorney

If we sound like the type of tax advisers you would like to work with, please look at our client testimonials. We pride ourselves on our close working relationships with every client, meaning we’ll be more than happy to help you too.

We will be thrilled to assist you with your personal tax requirements, and please feel free to telephone us on 01273 701200 or email info@plusaccounting.co.uk. Alternatively, you can visit our contact us page to arrange an initial conversation.

Further information

Where do you send your self-assessment tax return?

Where do you send your self-assessment tax return? If you are submitting a paper self-assessment tax return, you should send it to: Self Assessment HM Revenue & Customs BX8 1AS What is the self-assessment tax year? The self-assessment tax year ends on 5 April. ...

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Can self-assessment UK tax be paid in installments?

Can self-assessment UK tax be paid in instalments? If you cannot pay your tax on time, you may be able to arrange to pay your self-assessment tax liability in instalments. To do this you should contact HM Revenue & Customs on the Business Payment Support Service...

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Want to learn more?

Get in touch with our Tax Team to see how we can help.

 

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What is Video Games Tax Relief (VGTR)?

 

Video games tax relief (VGTR) was introduced in April 2014 as part of the Government-backed creative industry tax relief.

To show HMRC your company is eligible to claim VGTR, your company must hold an interim or final certificate for the game you’re claiming for. These certificates are issued by the British Film Institute (BFI).

To obtain certification from the BFI, your company must pass a cultural test, certifying that the production is a British video game. And you can claim VGTR up to two years after a qualifying accounting period.

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Does your video game qualify for tax relief?

Your company qualifies for and can claim creative industry tax reliefs if it is:

  • liable to corporation tax
  • directly involved in the production and development of video games eligibility

Your company will be entitled to claim VGTR if the video game is British and:

  • the video game is intended for supply rather than as a marketing tool, for example.
  • at least 25% of core expenditure is incurred on
  • goods or services provided within the European Economic Area (EEA).

If your company qualifies to claim VGTR, your company is also entitled to:

  • an additional deduction in computing its taxable profits
  • where that additional deduction results in a loss, to surrender losses for a payable tax credit.

The games that are eligible for video games tax relief include:

  • video console games
  • games for PCs
  • games for mobile devices, such as smartphones and tablets.

The ‘cultural test’

To qualify for the relief, all video games must pass a cultural test with the British Film Institute (BFI), certifying that the production is a British video game.

You can still send an application if the game is under development, and a final certificate will be made available once completed. The BFI will then review the completed game before issuing a final certificate.

What do you need to start a video games tax relief claim?

  1. Confirmation of the start date and end date of the development of each video game subject to a VGTR claim.
  2. A copy of the interim or final certificate issued by the British Film Institute for each video game underdevelopment during the accounting period, which confirms a game is culturally British.
  3. Details of estimated and actual income for each video game under development, which is subject to a
  4. VGTR claim.
  5. Details of estimated and actual expenditure incurred on the development of each game.

Download our Indie Dev Guide to Video Games Tax Relief here

Level up your finances: the ultimate guide to video games tax relief in 2024

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