Self Assessment & Personal Tax Return Guide

1. Tax Year & Filing Requirement

• Tax Year: Runs from 6 April to 5 April the following year (e.g. 6 April 2023 to 5 April 2024).
• Filing Required: If you earned more than £1,000 from self-employment during a tax year, you must file a return.
• Tax Liability: Tax is only due if your total income exceeds the personal allowance (currently £12,570).
• Deadline: Online tax returns must be submitted by 31 January following the end of the tax year.

2. Income

• Total Sales/Takings: The total income earned from your business during the tax year.
• Sales Invoices: Include copies or summaries of invoices issued to clients/customers.
• Online Payment Records: Include income from platforms like PayPal, Stripe, Uber, Just Eat, Deliveroo, etc.
• Cash Book/Spreadsheet: If you use a spreadsheet or app, please share it with us.
• P60 or PAYE: If you also worked as an employee, provide your P60 or payslips.
• Important: You only need to provide income for the tax year we are filing – not for two years unless requested.

3. Business Expenses

• Vehicle Costs: Fuel, repairs, insurance, MOT, servicing, road tax. If the vehicle is also used personally, provide estimated business-use percentage or a mileage log.
• Tools & Equipment: Any tools, phone holders, laptops, or other gear used for work.
• Phone & Internet: Only the business-use portion is allowable. Provide estimates or itemised bills if possible.
• Professional Fees: Fees paid to accountants, legal professionals, or consultants.
• Marketing & Advertising: Business cards, social media ads, Google Ads, website costs.
• Insurance: Business-related only (e.g. public liability, professional indemnity).
• Home Office Costs: Can be claimed proportionally if part of your home is used for business. Not your full rent.
• Bank Charges: Fees or interest on your business bank account.
• Subscriptions: Business-related software, trade journals, or apps.
• Receipts/Proof: Keep and send all invoices/receipts for these expenses.

4. Assets

• Assets Purchased: If you bought significant items (vehicles, laptops, machinery), please tell us:
• Asset description (e.g. iPhone, van, laptop)
• Purchase date
• Purchase cost
• This helps us calculate depreciation/capital allowances properly.

5. Industry-Specific Guidance

• Food Delivery Drivers: Fuel, insurance, bike repairs, phone mount, bags, thermal jackets.
• Taxi Drivers: Dispatch fees, fuel, insurance, car lease, vehicle cleaning, licensing costs.
• Barbers & Hairdressers: Products, tools, uniform, insurance, chair rental, business use of phone.
• Tradespeople (Plumbers, Electricians, Builders): Tools, materials, van expenses, protective clothing, subcontractor payments.
• Freelancers (Writers, Designers, Developers): Laptop, software, subscriptions (e.g., Canva, Adobe), home office, phone, internet.
• Tutors & Teachers: Teaching materials, online tools, Zoom subscription, exam papers, printer ink.
• Cleaners: Cleaning materials, uniform, mileage, insurance.
• Market Traders: Stall rent, transport, stock, packaging, storage costs.
• Driving Instructors: Car insurance, dual controls, fuel, teaching materials, phone use.
• Online Sellers (eBay, Amazon, Etsy): Listing fees, postage, packaging, stock, platform charges.

6. Common Mistakes to Avoid

• Claiming full car or house rent without valid business use calculations.
• Not tracking mileage or separating business/personal usage.
• Claiming clothing that is not a uniform or protective workwear.
• Missing income from platforms or cash jobs.
• Not providing proof for claimed expenses.

7. What We Need From You

• Income details for the relevant tax year (not multiple years unless requested).
• Summary or list of all business expenses with receipts where available.
• Proof of employment income (P60, P45 if applicable).
• Any other relevant info (e.g. benefits received, other income).

For more official information about Self Assessment and allowable expenses, please visit the UK Government website.