Knowledge Centre Category: Sole Traders & Partnerships

Self-Assessment

Self-assessment is the system used by HMRC to collect income tax from individuals whose tax affairs are not fully dealt with through PAYE, including company directors, landlords and the self-employed. Green Accountancy prepares and submits personal tax returns for clients as part of its personal tax service.

Annual Investment Allowance (AIA)

The Annual Investment Allowance is a tax relief that allows businesses to deduct the full cost of qualifying capital purchases from their taxable profits in the year of purchase. Green Accountancy applies reliefs like AIA as part of its low-risk tax minimisation approach for clients.