Got your first Self-Assessment tax return to file? Don’t stress—it’s not nearly as scary as it sounds. I’ve helped plenty of family and friends with theirs, and they always say, “That was way easier than I thought!” Sure, “tax return” might make you picture a mountain of paperwork and complicated maths, but honestly, it’s much simpler than it seems. And as always, I’m here to make the process as painless as possible—straight to the point. Let’s dive in.
Step 1: Get Registered With HMRC
Before you can file your tax return, you need to register with HMRC. If you’ve never filed before, head over to the HMRC registration page and create your account. You’ll need your National Insurance number, personal details, and some information about your income sources. After registering, HMRC will send you your Unique Taxpayer Reference (UTR) number, which you’ll need to complete your tax return. This can take a few weeks, so make sure to get on it early.
Step 2: Log In to the HMRC Website
Once you’ve got your UTR and your login details, head to the HMRC Self-Assessment login page to access your online account. You’ll need your Government Gateway user ID and password—so if you haven’t got them yet, set that up as well. Don’t worry, it’s simple, but make sure to keep a note of these details somewhere safe (because, let’s face it, you’ll probably forget them).
Step 3: Fill Out Your Tax Return
Once you’re logged in, click on the option to “File a tax return.” You’ll be prompted to enter your income details. This includes everything from your salary (if you’re employed), self-employed income, rental income, dividends, and any other sources of income. You’ll also be asked about any allowable expenses if you’re self-employed or have business expenses. HMRC makes it relatively simple by walking you through the sections one by one. Just make sure you have all your paperwork to hand (like P60s, P45s, bank statements, etc.).
Step 4: Double Check and Submit
After entering your details, HMRC will show you a summary of your income, expenses, and any tax due. This is your chance to double-check everything is correct before hitting “submit.” If anything seems off, now’s the time to correct it. Once you’re happy, click “Submit.” Don’t forget—you’ll be given a confirmation number for your submission, so make sure to save that for your records.
Step 5: Pay Any Tax Due
If HMRC tells you that you owe tax, you’ll need to make a payment. You can do this through your online account, and HMRC offers several methods to pay, including direct bank transfer, debit/credit card, or through your bank. Be sure to pay by the deadline to avoid any penalties!
A Few Final Tips:
- Deadlines: Your tax return needs to be filed by January 31st following the end of the tax year (April 5th). Late submissions incur penalties, so get it done on time.
- Keep Records: If you’re self-employed or running a business, keep all receipts, invoices, and records for at least 5 years after the tax year in case HMRC wants to check your returns.
- Use the Help Section: HMRC’s site is packed with help articles and guides, so if you get stuck, there’s no shame in looking it up.
And there you have it! Filing your first Self-Assessment tax return isn’t as bad as people make it sound—once you’ve done it, you’ll feel like a tax filing pro. And remember, if you find yourself getting stuck or need a bit of extra help, get in touch and we will guide you through it.
