HMRC use Self Assessment to calculate the tax on your income. It’s one type of tax return that often applies to self-employed people. Tax is usually deducted automatically from wages, pensions, and savings but if you receive further income, it’s important to report this to HMRC by sending a Self Assessment tax return each year. Using software for Self Assessment can help ensure your tax return is submitted correctly and on time. Get your Self Assessment tax return sorted in three simple steps and start the new tax year with confidence.
Digital records are a simple and secure way to store your financial records in one place:
*Only available in Accounting Standard and Accounting Plus
Save time and avoid mistakes with automated processes that simplify preparing for Self Assessment:
Everything from Accounting Standard and:
If you need a simple solution to manage income and expenses for tax compliance, without quoting, invoicing or VAT, see our Individual plans.
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?
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):
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.
Have simpler needs?
To accurately fill in your tax return, it’s important to keep records of:
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.
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.
All of our customers get free, award-winning support by phone, email, and online chat.
You will also get 24/7 access to the following support resources:
Get articles, insights, and tips to help with your preparations for Self Assessment from Sage Advice, our business blog.
Access everything you need to help automate and streamline workflows, drive your practice forward and delight your clients with Sage for Accountants.
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