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The Easiest Way to Fill Out Self-Assessment Tax Returns

Posted on June 27, 2022

selfassessment tax returns

The easiest way to fill out self-assessment tax returns is online. You can save your progress as you go and come back to it later. However, if you’d rather work in smaller chunks, you can complete one section at a time. The process is easy and straightforward, so there’s no need to worry about getting stuck on a section that’s too complex or time-consuming.

You’ll Save Yourself Time, Money, And Headaches

If you’re struggling to fill out your self-assessment tax returns, you can enlist the help of an accountant. These professionals can calculate your tax and National Insurance and help you file your return. They can also help you with claiming their fees as allowable business expenses. Remember, the deadlines for self-assessment tax returns are the same every year. By 31 January 2023, you’ll have to file your last self-assessment tax returns.

There are two ways to pay your self-assessment tax returns: online or by post. You’ll need to report your earnings and expenses for a tax year that runs from 6 April to 5 April the following year. Depending on your circumstances, the deadline for online returns is 31 January and for paper returns, it’s the previous October 31st. You’ll have to pay your tax bill by the same date, but if you make any mistakes, your refund could be delayed.

Whether you’re an employed individual or self-employed, the process is similar. Typically, you’ll file your Self-Assessment tax returns every year. This tax return is your annual account of your earnings. You need to notify HMRC of any taxable income and any tax allowances or reliefs. Typically, you have to submit these forms electronically by 31 January. You’ll then have to pay your tax to HMRC. You can get a tax rebate if you meet certain requirements.

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