How do I complete my Self Assessment tax return?

A Self Assessment tax return is a form that individuals in the UK must complete to report their income and calculate their tax liability to HM Revenue and Customs (HMRC). It's usually required for those who are self-employed or have income not taxed at the source.

You need to complete a Self Assessment tax return if you are self-employed, a company director, have income from rentals or investments, received dividends, or have any other untaxed income.

The deadline for submitting a paper Self Assessment tax return is October 31st, and for an online Self Assessment tax return, it is January 31st of the following year.

You can register for Self Assessment online through the HMRC website. You will receive a Unique Taxpayer Reference (UTR) and will need to set up a Government Gateway account.

You'll need details of your income, expenses, bank interest, dividends, and any other earnings. You should also have your UTR, National Insurance number, and records of your business income and expenses if you're self-employed.

Yes, you can file your Self Assessment tax return online via the HMRC website, which is a faster and more efficient method than submitting a paper return.

If you miss the deadline, you will incur a penalty starting at £100, and further penalties may apply if the delay continues.

You can claim allowable business expenses on your Self Assessment tax return to reduce your taxable profit, such as travel, office costs, and equipment.

A Unique Taxpayer Reference (UTR) is a 10-digit number given to every UK taxpayer who registers for Self Assessment, used for identifying their records.

Yes, if you have any Pay As You Earn (PAYE) income, you should include these details in your Self Assessment tax return.

You can check the status of your tax refund by logging into your personal tax account on the HMRC website.

You can correct a mistake on your tax return after you've submitted it. You will have 12 months after the deadline to make any changes.

HMRC provides a Self Assessment calculator tool, and there are various accounting software options available to help you complete your tax return accurately.

Yes, you can get help from a qualified accountant, a tax advisor, or use HMRC’s helplines and guidance available on their website.

You can pay your tax bill via direct debit, bank transfer, debit/credit card, or through monthly budget payments through your personal tax account.

It's recommended to keep records for at least 5 years after the 31 January submission deadline of the relevant tax year.

You must declare all your income, including self-employment income, rental income, savings interest, dividends, and other untaxed income.

Payments on Account are advance payments towards your tax bill, usually applicable to self-employed individuals, and are made in two installments.

As a self-employed individual, you may be liable for Class 2 and Class 4 National Insurance contributions, which should be calculated and paid via your Self Assessment.

You should inform HMRC of any changes in your circumstances, such as changes in income or if you stop being self-employed, so they can update your records.