Skip to main content Skip to search

Self Assessment

Self Assessment Tax Returns

Most people in the UK pay all their tax ‘at source’, for example, through Pay As You Earn (PAYE) if they are employed, and are not required to file a tax return. Self Assessment therefore does not affect everyone and you will normally only need to complete a form if one or more of the following apply to you:

  • You are working for yourself – you are self-employed;
  • You are a partner in a partnership business;
  • You are a minister of religion – any faith or denomination;
  • You are a trustee or the executor of an estate.
  • You have property income
  • Your income is over £100,000
  • If you have income which is not taxed at source
  • You are a director
  • You have capital gains to declare

At DD Chartered Accountant we use HM Revenue & Customs (HMRC) -approved software to:

  • Complete your tax return
  • Calculate your tax liability
  • File the return online
  • Liaise with you on the amounts to be paid and when they are due

As part of the above service, DD Chartered Accountant also analyses your self assessment tax returns to see if any tax savings can be made and review the form to see if there are any anomalies that need to be addressed before the return is submitted.

What is Self Assessment?

Self Assessment, also known as known as a “SA100” is a system HM Revenue and Customs (HMRC) uses to collect Income Tax.

Each year, you need to show your income and capital gains, and claim allowances and reliefs. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income (including COVID-19 grants and support payments) must report it in a tax return.

You send the form to HMRC either on paper or online. The information on the tax return is used to calculate your tax liability. This process is called Self Assessment.

The last tax year started on 6 April 2021 and ended on 5 April 2022.

Self AssessmentDeadline
Register for Self Assessment if you’re self-employed or a sole trader, not self-employed, or registering a partner or partnership5 October 2022
Paper tax returnsMidnight 31 October 2022
Online tax returnsMidnight 31 January 2023
Pay the tax you oweMidnight 31 January 2023

There’s usually a second payment deadline of 31 July if you make advance payments towards your bill (known as ‘payments on account’).

You’ll usually pay a penalty if you’re late. You can appeal against a penalty if you have a reasonable excuse. DD Chartered Accountant facilitates the entire accounting process.

2020 to 2021 tax year and earlier

The deadline for these tax years has passed. Send your tax return or payment as soon as possible – you’ll have to pay a penalty.

Sources: https://www.gov.uk/

Do you want to learn more about us?

We’re at the end of the phone for any queries you might have, no matter how small.