Tax Returns
self employed assessment
If you are self-employed, you always need to fill in a tax return.
We will normally expect you to:
- record all sales and other business receipts as they come in, for example, invoices, bank statements and paying-in slips to show where the income came from
- record all purchases and other expenses as they arise, and ensure - unless the amounts are very small - that you have, and retain, invoices for them
- keep a record of all purchases and sales of assets used in your business
- record all amounts taken out of the business bank account, or in cash, for you or your family's personal use record all amounts paid into the business from personal funds, for example, the proceeds of a life assurance policy
- Tax Deduction Statements if you worked within the scope of CIS
- P60 or P45 if you work as an employee as well
- Copy of your passport or ID card
Tax year in the UK begins on 6th of April and ends on 5th of April of next year. Self Assessment - Tax Calculation document (SA302) is your confirmation of Tax Return but it does not mean that your agent receives your tax money back automatically if you were due a repayment of tax. When we receive your money we contact you to make an appointment and give your tax money back.