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Get organised for Self Assessment

Register to watch our free on-demand Self Assessment webinar now. Our panel of accountancy experts will give you top-tier advice on best practice and what you can do now to avoid stress later.

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Speakers

"As the Director of Product Marketing for Accountants, Chris brings a vast understanding of accounting challenges and best practices, having been a partner at a top 100 accountancy firm. He brings nearly 20 years of hands-on experience and strategic insight of the profession, coupled with an infectious enthusiasm in the adoption of technology and Business Intelligence to improve reporting and drive innovation in the SME sector."

Chris Downing
Director for Accountants and Bookkeepers

"Bringing nearly a decade of experience in understanding customer needs to inform product development and marketing campaigns, Fabiano has delved into the challenges of Self Assessment and small business bookkeeping, especially with big legislation changes like Making Tax Digital for Income Tax, to champion ways to help self-employed professionals save time with admin tasks by adopting cloud accounting software."

Fabiano Rocha
Senior Product Marketing Manager,
Sage Accounting Individual

"Samantha, an AAT licensed accountant, formed SJCM Accountancy in 2019 having spent over 13 years employed in practice. SJCM Accountancy focus on balancing the implementation of modern technology and being human. Samantha is enjoying the freedom of growing her own firm. She thrives on helping small business owners better understand their numbers, stay ahead of compliance, and perform at their best."

Samantha Mitcham
SJCM Accounting

What are the benefits of using software to help with Self Assessment ?

Quotes & Estimates 09.02.2022 From 09.01.2023 To Calculate Refresh summary DUE £3,561.10 £15,100.50 50% £7,550.25 25% £4,228.14 14% £3,322.11 11% 44% OVERDUE £4,211.29 56% Outstanding Sales Invoices £290.00 In £98.00 Out £500 .99 £1,055 .99 £1,055 9:41 Hi, Michael

Stay organised with digital records

Digital records are a simple and secure way to store your financial records in one place:

  • Create sales invoices with a built-in Pay Now button powered by Stripe
  • Easily access, amend or remove information to improve accuracy
  • Use the Sage app on your phone or tablet to track admin on the go
  • Automate data capture from receipts and purchase invoices*

*Only available in Accounting Standard and Accounting Plus

Save time with automation

Save time and avoid mistakes with automated processes that simplify preparing for Self Assessment :

  • Connect your bank feeds to automatically import transactions
  • Match your transactions with invoices easily using automated technology
  • Create recurring invoices to save time for your business
Bank Transactions Transactions 3 Last updated 15 minutes ago Mon, August 15 Energy Supplier £270.00 Fri, August 12 Work Contracts LTD £230.00 Thurs, August 11 Supplies store -£30.00

Plans to support you and your business

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Upgrade or cancel at any time. No long-term contracts, commitments or hidden fees.

Accounting Start

For sole traders and limited companies.
per month / excl. 20% VAT*
Get 3 months free
Most Popular

Accounting Standard

For small businesses working with suppliers, CIS, or with accrual accounting.
per month / excl. 20 % VAT*
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Accounting Plus

For small businesses managing inventory or working in multiple currencies.
per month / excl. 20% VAT*
Get 3 months free
*Get 3 months free, then £14/£28/£36 + VAT/mo (tier depending). Terms and conditions apply.
Add Payroll starting at 5 employees from £10.00 per month excl. VAT with the option to add up to 150 employees. Add additional employees in-product at £2.00 per month (Essentials), £4.00 per month (Standard) and £6.00 (Premium). Prices exclude VAT.

Have simpler needs ?

If you need a simple solution to manage income and expenses for tax compliance, without quoting, invoicing or VAT, see our Individual plans.

Self Assessment FAQs

You must submit your online Self Assessment tax return by 31 January for the previous tax year, and you must register by 5 October in your second year of operation. However, there are other key dates you should be aware of ;

When ? - What do I need to do ?

  • 5 October - Register for Self Assessment
  • 31 October - File any required paper tax returns
  • 30 December - If you are eligible, inform HMRC if you would like them to directly collect Self Assessment payments through your PAYE tax code
  • 31 January - File and pay your Self Assessment tax return online
    - For first year businesses, make your first, advance payment towards next year's Self Assessment bill
  • 6 April - New tax year begins
  • 31 July - Make your second payment on account.

For more information, and to learn more about which deadlines are applicable to you and your business, please visit : https://www.gov.uk/self-assessment-tax-returns/deadlines

You need to send a tax return if (in the last tax year) you were (including, but not limited to) :

  • Self-employed with income over £1,000 (before taking off anything that can be claimed through tax relief)
  • A property owner with income from renting out property for over £2,5000 after allowable expenses or more than £9,999 before allowable expenses
  • Left with untaxed earnings of more than £2,500
  • An investor with savings or investments over £10,000 before tax
  • An LTD Director of a for-profit company
  • Earning over £50,000 and claiming child benefits
  • A UK resident with foreign income
  • Have taxable income over £100,000
  • A trustee of trusts of registered pension schemes
  • If your state pension is the only source of income and is higher than your personal allowance
  • Making profit from selling shares or a second home

You can fill in your tax return online or by a paper form. You can submit it any time from the first day of the following tax year (from 6 April 2024). In fact, a record 11.4 million customers submitted on time for the 2021 to 2022 tax year, with 68,462 submitting their tax return on deadline day.

If you're looking for software for Self Assessment our plans have you covered. All 3 packages (Start, Standard, and Plus) give you the fundamental features you need to manage your accounting, including your tax returns.

  • Accounting Start : If you’re a non-VAT registered sole trader or just starting out with a new business then Account Start is a great choice. Comes with simple bookkeeping requirements and single-user access. Perfect for businesses using cash accounting.
  • Accounting Standard : Perfect if you’re VAT-registered and self-employed, a service provider with quoting and estimation needs, CIS-registered, or if you need to share access with more than one user (with your accountant, for example). Perfect for businesses using cash or accrual accounting.
  • Accounting Plus : This includes all of the functionality within Accounting Standard but it’s also great for stock-based businesses, businesses with cross-border services or sales, and professionals with foreign bank accounts. Perfect for businesses using cash or accrual accounting. Learn more about cash and accrual accounting.

Have simpler needs ?

  • Accounting Individual: If you need a simple solution to manage income and expenses for tax compliance, without quoting, invoicing or VAT, see our Individual plans.

To accurately fill in your tax return, it’s important to keep records of :  

  • Personal financial records like bank statements, certificates of loans, receipts of payments 
  • Documents you have signed or been given like personal pension plan certificates, birth or marriage certificates 
  • Benefits and expenses related to your income like P60s, P45s, annual pension statements, notes of taxable receipts and benefits 
  • Expenses claimed against your earnings or reductions of your employer’s calculation of your benefits like receipts, credit card statements, mileage details, purchase records 

To effectively keep track of key information in preparation of your Self Assessment, you can use software like Sage Accounting to centralise, digitise, and automate the capture of important data so that it’s easier and clearer to fill out your tax return.

With software like Sage Accounting, you can better prepare for your Self Assessment tax return, whether you do it yourself or work with an accountant. All the information you need to declare is kept accurate, compliant, and digitised in one place. You can also use Sage Accounting to work more collaboratively with your accountant, sharing real-time information in a secure way – and you can use clear financial information to plan your tax year together. 

Sage Accounting helps you capture, categorise, and automate data for your Self Assessment tax return in one place. Get ready for the 31 January 2024 deadline today by keeping digital records and optimising your self-employment income with Sage Accounting.

  • Stay compliant and get total peace of mind that your tax return data is accurate 
  • Plan your tax year effectively with up-to-date information 
  • Store the relevant information for the right amount of time
  • Automate bank reconciliation and upload receipts or documents to Sage Accounting for faster and more accurate data capture
  • Simplify the process of gathering data for your Self Assessment tax return so you can complete it yourself
  • Improve collaboration with your accountant if you choose to work with one for your tax return 

All of our customers get free, award-winning support by phone, email, and online chat.

  • Telephone support is available 24 hours a day, seven days a week. Webchat support is available Mon-Fri 9-5.
  • Pre-recorded webinars are available to watch any time that suits you.

You will also get 24/7 access to the following support resources 

  • Our online Community Hub: Ask questions, share ideas, and solve issues with Sage Accounting customers and product experts..
  • Step-by-step video guides.
  • Instructor-led courses : For anyone wanting to take their skills to the next level, we have hundreds of courses designed for multiple experience levels and job roles. Get certified and earn badges that show your expertise and build up your resume.
  • We also have support channels on Twitter and Youtube. We are committed to providing you with world-class support for Sage Accounting at every step of your business journey.

Top tips for tackling Self Assessment

Get Self Assessment ready with all the key information and tips from our free guides.

Guide: Get Self Assessment right each time

Ready to get tax right? Sage experts answer real-life questions, step by step, about Self Assessment returns.

Guide: Self Assessment, your questions answered

Get prepared for Self Assessment. Learn what you can and can’t claim for, which actions you need to take, and how Sage Accounting can help.

Self Assessment news and advice

SAGE ADVICE

Get articles, insights, and tips to help with your preparations for Self Assessment from Sage Advice, our business blog.
New tax year: Key changes and initiatives for 2024/25

New tax year : Key changes and initiatives for 2024/25

A swathe of changes are impacting businesses due to the new tax year starting in April 2024. Learn about the measures and how to respond.

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Free e-book: Get Self Assessment right each time

Free e-book : Get Self Assessment right each time

Need support sorting and filing your Self Assessment tax return ahead of the 31 January deadline ? This free e-book will help you.

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Tax deductions UK: Allowable expenses you can claim if you're self-employed

Tax deductions UK : Allowable expenses you can claim if you're self-employed

If you're a sole trader, you can deduct expenses to reduce your tax bill. Find out what costs qualify and how to claim.

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How to file a Self Assessment tax return online: A step-by-step guide

How to file a Self Assessment tax return online : A step-by-step guide

Good preparation can help you file a tax return online. Read this for tips on filing a Self Assessment tax return, key dates and expenses.

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What is payment on account and how do I pay it?

What is payment on account and how do I pay it ?

Payment on account for Self Assessment can be confusing. In this article, we break it down so you can make tax payments with confidence and ease.

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Tax return advice: 7 tips to get your Self Assessment tax return right

Tax return advice : 7 tips to get your Self Assessment tax return right

Jonathan Wingfield, director at Wingfield Accountancy Services, shares advice to help you file your Self Assessment tax return on time.

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How to make Self Assessment less stressful for your practice

How to make Self Assessment less stressful for your practice

Learn how accountants can beat Self Assessment season stress and support clients to get their tax returns sorted in a timely manner.

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Self Assessment and Making Tax Digital: What MTD for Income Tax means for landlords

Self Assessment and Making Tax Digital : What MTD for Income Tax means for landlords

Is it really the end of Self Assessment for landlords ? Discover how property income will be affected by Making Tax Digital for Income Tax.

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