Self Assessment Tax Return Survey 2023

With the Self Assessment deadline looming, how prepared are sole traders for submitting their Self Assessment tax returns, and how long does Self Assessment usually take them?

To find out, QuickBooks surveyed 1010 Sole Traders who need to submit a Self Assessment tax return. We found the following information from our Self Assessment survey data.

Over 45% of business owners haven’t started their tax return

We asked business owners when they are planning to start their return - it seems that many sole traders (36.93%) are well-prepared and already started their return in December. It’s important to start tax returns as soon as possible to avoid leaving it too close to the deadline, becoming stressed, and potentially missing the cut-off. 

Worryingly, over 45% of respondents of our Self Assessment survey planned on only beginning their tax return the month it is due, and just under 5% still don’t know when they’re going to start it. 

Business owners tend to do their tax return manually

Although business owners can do their self-assessment themselves, it can get confusing if you’re not completely sure what to do or what everything means, and it can be extremely time-consuming. 

Despite this, our Self Assessment survey data revealed that most respondents plan to complete it themselves. 1 in 5 people plan to do it themselves using financial management or accounting software. Around 34% of respondents plan to use an accountant, either one they already have or hire one, especially for the tax return.

A quarter of business owners are not aware of the Making Tax Digital for Income Tax Self Assessment (MTD ITSA)

In April 2026, self-employed individuals and landlords with an income of over £50,000 will need to keep digital records and provide quarterly updates on their income and expenditure to HMRC via MTD-compatible software. 

This is a huge change for businesses, so it’s great that three-quarters of survey respondents are aware of MTD ITSA. Of those that are aware, 36% are already compliant, and 35% plan to be before the deadline. Shockingly, 22% of sole traders are not aware of MTD ITSA. 

The biggest Self Assessment struggles revealed

We asked survey respondents what they struggled with the most when completing their Self Assessment. From our survey data, it appears that the two main issues people faced were understanding which expenses they can deduct, and finding all their financial information. 

This article on Self Assessment tax returnscan help explain what deduction categories you can claim as allowable expenses for self-employment, and using financial management software, such as QuickBooks, can make finding financial information much easier.  

Sole Traders are willing to invest more time into financial setups

Just under 90% of sole traders would be willing to invest time in January to improve their financial set-up with the right guidance in order to make the rest of the year easier. It’s always important for business owners to keep on top of their finances, but it's especially helpful when it comes to completing your tax return. 

It’s a good idea to create processes that will help you keep track of finances - if you’re struggling to keep up with it yourself, it may be helpful to invest in financial software management or find an accountant. 

Self Assessment tax returns tend to take between four and eight hours to complete for most

We asked those who have previously submitted a Self Assessment for tax return, approximately how long it takes them to complete.

The most common answer was four to eight hours, followed by nine to twelve hours, and then one to three hours. Around 4 in 25 respondents claim their Self Assessment can take them anywhere between one day to one week. According to our surveydata, the mean amount of time spent on Self Assessment is around 20 hours. 

The deadline is just weeks away, so if you haven’t already started, be sure to as soon as possible to avoid any fines! If you’re unsure of anything or need some support and guidance, QuickBooks can help - we are currently offering 50% off for the first four months.