HMRC Self Assessment | Self-Employed
Get ready for the HMRC Self-Assessment deadline
This January, take the stress out of tax time and have the confidence your taxes are done right with QuickBooks.
Get ready faster this year
Bulk transactions with little fuss
Tot up your income, expenses and mileage and add them to QuickBooks Self-Employed in one go.
Use reports to see where you stand
Add your tax profile and we’ll calculate your tax summary in an easy report that matches your SA103 form.
QB Assistant is there to help
In the mobile app, ask your personal helper QB Assistant questions like 'How much did I earn last year?', 'What tax do I owe?' or practical questions like 'How do I upload a receipt?'
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Need multiple accounts? Call us on 0808 168 4246.
All you need to know about Self Assessment
How do I register for Self assessment?
Hopefully you’ll have registered as a sole trader as soon as you started working for yourself – this year’s deadline was 5 October 2019. The next step is to enrol for HMRC’s online service and to do this you’ll need to create a Government Gateway account. You can also now use GOV.UK Verify to access Self Assessment – allow 5-15 minutes when you sign up for the first time.
What can I claim back as expenses?
Stock, office bills, subcontractor payments and the cost of marketing your business are all 'allowable expenses' but clothes aren’t (unless you wear a uniform) and neither is entertaining clients. Travel, including fuel, parking and train fares can be claimed, but journeys to and from your place of work don’t count. And if you work from home, you can claim a percentage of your relevant bills, or claim a set amount through simplified expenses (between £10-£26 a month).
And what about capital allowances?
Also known as plant and machinery, capital allowances don’t just apply to heavy industry. Any kind of equipment or company cars or vans as well as computers and office furniture count – but they must be bought rather than rented.
If I'm late, how much will I be charged?
There’s a fine of £100 if you don’t meet the 31 January deadline. That increases after 3 months if you still haven’t done your return. There are penalties for late payments too, so it makes sense to get organised.
Can I make changes after submission?
Yes. You can correct mistakes from this year or previous years by logging in to your HMRC online account. But it goes without saying that it’s better to get everything right first time.
How do I contact HMRC?
Call them on 0300 200 3310 or contact them via Twitter @HMRCcustomers. Webchat is also available through the HMRC website.
Who needs to submit Self Assessment?
You’ll need to if you work for yourself, even if you’re also employed elsewhere. Income from property rental can count, as does any regular income made from selling items (eBay entrepreneurs beware). Claiming Child Benefit? If you or your partner earn more than £50,000, you’ll have to do a Self Assessment too.
Do landlords have to submit Self Assessment?
Whilst some landlords may not consider themselves to be self employed or a small business, HMRC takes a different view. If you rent out a property and have earned between £2,500 - £9,999 after allowable expenses or £10,000 or more before allowable expenses, it needs be declared through Self Assessment.
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* If you select the Free Trial option the first thirty (30) days subscription to QuickBooks, starting from the date of enrolment, is free. To continue using QuickBooks after your 30-day trial, you'll be asked to present a valid credit card for authorisation, and you'll be charged the then current fee for the service(s) you've selected. All prices shown exclude VAT. Offer(s) are valid for new QuickBooks customers only and available for a limited time. Offer cannot be combined with any other QuickBooks Online offers. Terms, conditions, features, pricing, service and support are subject to change without notice.
QuickBooks Making Tax Digital for VAT software is available to all QuickBooks Simple Start, Essential and Plus subscribers. Use of QuickBooks MTD for VAT software and bridging software must be aligned with HMRC's eligibility requirements and includes additional set up between the small business and HMRC.
QuickBooks MTD software currently supports Standard, Cash and Flat Rate schemes. QuickBooks Bridging Software supports Standard and Cash schemes. Annual submissions are not currently supported but will be coming soon. Businesses whose home currency is not GBP are currently not supported.
Receive a 50% discount off the current monthly price for QuickBooks Online Simple Start or 50% discount off the current monthly price for QuickBooks Online Essentials or 50% discount off the current monthly price for QuickBooks Online Plus for the first 6 months of service, starting from date of enrolment, followed by the then current monthly price. Your account will automatically be charged on a monthly basis until you cancel. You must select the Buy Now option and will not receive a 30-day trial. Offer valid for new QuickBooks Online customers only. No limit on the number of subscriptions ordered. You can cancel at any time by calling 0808 168 9533. Discount cannot be combined with any other QuickBooks Online offers, such as the Movemybooks service. Terms, conditions, features, pricing, service and support are subject to change without notice. All prices shown exclude VAT.
Receive a 50% discount off the current monthly subscription price for the first 6 months of service starting from the date you subscribe for the service. In order to obtain the discount you need to select the Buy Now option and will not receive the free 30 days trial offer. After the first 6 months, your account will be charged on a monthly basis at the then current price until you cancel. The above discount offer is available only to new QuickBooks Self-Employed customers and cannot be combined with any other QuickBooks Online offers.
1Payroll functionality is available to all customers with an active trial or subscription to QuickBooks Simple Start, Essentials or Plus. Price excludes VAT. QuickBooks Online Advanced Payroll is free to use whilst in Beta. Thereafter, it will be charged at £1 per employee per month as an introductory offer until the 30th March 2020.
2QuickBooks Advanced Payroll allows you to automatically submit information to the following pension providers: NEST, The Peoples Pension, Smart Pensions, Aviva and NOW:Pensions
These terms apply to QuickBooks UK customers only. Bulk-pricing discount offer is valid only if you are signing up for more than one QuickBooks Online subscription with each order. View terms and conditions for multiple accounts pricing here. To inquire further about the bulk-pricing discount offer, please call 0808 168 4246.
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'See how your business is doing in less than 30 seconds'; Intuit survey June 2016.
'Save 12 hours a month managing your finances'; Based on an October 2016 survey of active Quickbooks Self Employed subscribers who offered an opinion about how much time Quickbooks Self Employed saves them related to managing their finances.