Your first time can be daunting. How are you meant to know what you’re doing? What if you make a mistake?
We’re talking about filing your taxes, of course. More than 10 million tax returns are submitted to HM Revenue and Customs (HMRC) each year. But nearly one in five (19%) of those who have filed a self-assessment in the past two years think they may have lost out financially because they made an error or didn’t understand the document.
That’s a scary statistic for first timers. But remember, all your self-employed friends have been there, and they all got through it – each with their own story to tell.
Still need convincing you can make it through the self-assessment season first time?
Check out this video from some of our favourite QuickBooks self-employed customers. Learn from Max Knight, the electrician who’s mastered the murky world of business finances. Hear Alex Marshall’s story and how this Pilates teacher has vowed never to get caught up in the January panic again. These self-assessment confessions will remind you you’re not alone!
Don’t miss our first time self-assessment guide
And if you’ve found yourself on this page because self-assessment’s come around too soon again, it’s not too late to own the situation. We’ve teamed up with some of our customers, as well as Mark Lee, Chairman of the Tax Advice Network, to help you get back on track.
Our honest guide to surviving first time self-assessment sums up everything you need to know about getting up and running.
Download the guide now and prepare yourself for the self-assessment deadline on 31st January. Find out how QuickBooks online accounting software can help you stay in control of your finances all year round.
You can also find practical tips on how to beat the five stages of self-assessment here, which our customers tell us include envy, fear, procrastination, boredom and (finally!) relief.
Make things easy for yourself
Running your own business is always going to be unpredictable, but there are some easy ways to make the self-assessment process simpler and stress-free.
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