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3 tips for completing your self-assessment tax return

18th December 2017

If you’re winding down for the festive period, your tax return is probably the last thing on your mind. 

But if you want a truly relaxed December it pays to get self-assessment sorted before the 31 January deadline for online submissions. 

Here are 3 things to do before you begin. 

1) Know your dates

The 31 January 2018 deadline relates to income and expenses between 6  April 2016 to 5 April 2017. You don’t need to worry about anything outside of this timeframe.

2) Organise your records 

We all start with good intentions about keeping our records in order but it’s easy to let this slip. 

If you haven’t been keeping on top of things, set aside some time to gather you receipts or organise your digital records before you start your tax return. 

The exact information you’ll need depends on your circumstances but, broadly speaking, you’ll need informational relating to:

  • business expenses
  • sales and income 
  • personal income (including any overseas income)
  • savings, investments and pensions
  • capital gains or losses.

You’ll also need information about VAT if you are registered and PAYE if you employ people. 

3) Find your HMRC details

You’ll need your unique taxpayer reference when filling in your tax return. This is the 10-digit code HMRC sent you when you first registered for self-assessment. 

You can find it on previous tax returns and other documents from HMRC. It might have a ‘K’ at the end and is also sometimes called a ‘tax reference’.

HMRC is notoriously busy at this time of year so contact them as soon as possible if you can’t find your number.  

Talk to us

Get in touch if you need help with your self-assessment tax return or want us to handle this process on your behalf.

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