Self Assessment is a system that HMRC uses to collect Income Tax from:

• sole traders
• people with more than 1 source of income
• company directors who take dividends
• anyone earning more than £100k/year

Details of the year’s earnings from 6 April-5 April need to be submitted to HMRC by 31 January in the following year. The tax is due in two instalments: 31 January (in arrears) and 31 July (in advance). You can read more about this in our blog on how to do a self-assessment return.

There are several parts to the Self Assessment tax return. QuickBooks can give you an estimate of your Income Tax and calculate your income and expenses to help you prepare your SA103 form. The figures don’t include partnerships, property income or capital gains.

QuickBooks’ self-employed accounting software can automatically calculate your income, minus expenses based on the information you’ve uploaded to QuickBooks. But right now, VAT and CIS payments aren’t automatically included, so you’ll need to take account of that.

If you’re claiming allowances, such as the Married Couples Allowance, you’ll also need to calculate that manually. The same goes for deductions against fixed assets. You can read more about this in our blog on understanding income tax.

If you’re VAT registered and/or use accrual accounting (recording income and expenses when you get a bill or send an invoice) QuickBooks Simple Start is the right product for you. If you’re not VAT registered and use cash accounting (recording income and expenses when you receive or pay money) QuickBooks Self-Employed accounting software is probably best for you.

If you need to move from QuickBooks Self-Employed to Simple Start (or vice versa) our friendly team will explain how to migrate your data. Of course, it's easier if you pick the right QuickBooks product from the start, so please call us on 0808 168 9533 if you need any guidance.

Take a look at our blog post understanding income tax for advice about expenses and completing Self Assessment. Our team can give you technical advice about downloading the figures you need from your QuickBooks account, but for other advice, please consult an accountant.

Yes. You can import Customer, Supplier, Items, and Chart of Accounts from an Excel spreadsheet in several ways.

Not with QuickBooks Self-Employed, but you can track your VAT and then prepare and submit your return to HMRC using QuickBooks Online.

If you need to manage Construction Industry Scheme obligations (CIS)try QuickBooks Online.

Of course. It’s easy to invite them to access your QuickBooks account. Need to find an accountant? Check out our searchable directory of accountants.

You can, but you’ll need to move your data to your new QuickBooks Online product (Simple Start, Essentials or Plus), following step-by-step instructions on how to switch from QuickBooks to Self-Employed to QuickBooks Online. Our friendly team can help you choose the right product for your needs, so you're less likely to have to switch products. Call us on 0808 168 9533 and we'll be happy to help.

The allowable expenses you can claim under Self Assessment must be for business use only and they vary depending on the business you’re in. You can read more about this in our blog, check out the list of allowable expenses on HMRC’s website or speak to an accountant.

If you’re a sole trader, you need to register for Self Assessment with HMRC so you can pay your Income Tax. Read our handy blog article to find out more about how to calculate and do your income tax.