SELF EMPLOYED UK - How to complete a SELF-ASSESSMENT tax return - A simple guide.
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- Опубліковано 14 сер 2020
- If you're a self employed individual completing a self assessment tax return in the UK this walkthrough will help you with the process. How to complete a self-assessment for beginners.
To book a slot for a video call to have tax questions answered or self assessment's reviewed before submission simply email your request to trader_uk@outlook.com. You will be quoted on a PAYG basis and all calls are conducted via zoom. Prices start from £20.
For an updated tutorial covering the 20/21 tax year for returns due by 31 January 2022. Check out our new channel tax_uk specifically for practical tax content. Don't forget to subscribe!
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Was just about to hire an accountant for 250, then I came across this video and did this return on my own in 15 minutes. A massive thank you.
Thats the exact same reason I'm here, I feel so much easier
About to watch will let you know after
Went through the website with me no help at all
Same here mate. The accountant think they are kind of god or something that we can’t use our common sense like UA-cam
Im here for the same...i hope it helps....❤🎉
My accountant charging me £850 for this 😱 !! Thank you very much sir You are a star💯 you just saved me £850 .
Damn 850, what type of business do you have?
Absolutely brilliant info, I'm about to do my first self assessment. It all seems so scary however you've put my mind at rest and I shall attempt it on my own, many thanks 🙂
Thank you for making it so easy and not very frightening. I have had huge anxieties about do my SA online. You have really simplified everything. Thank you
I have been after an accountant for a while now I thought I would struggle with this. Explained very clearly
I’ve been self-employed for five years I always find it stressful, and watching walk-through videos always helps with that many thanks
Glad it helped. I think it’s a bit over complicated because they have to cover so many scenarios but they could do a simplified version for the average person. Thanks for the support 👍
@@trader_uk1446 I'm an Uber driver can I do this or do I need an accountant
@@faisalm2973 Can do it yourself
Thank you very much for your very clear and to the point video. You made this daunting task that I put off for a while for fear of it being too complicated seem very simple and have now completed it with ease. Thanks for not dragging it out and waffling for an hour also!! Much appreciated.
Couldn't afford an accountant and was highly desperate, by chance this video came up on my recommended and the relief I feel is unbelievable. Thank you so much for this video, actually saving lives!
I was dreading do mine at first but, reality was it wasn’t actually that bad, simple walkthrough here! 👊🏼
Many many thanks for taking me through this daunting task of paying my own tax and making it sound easy and doable.
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Thank you. I now have a separate channel for tax issues (tax_uk) It would be worth subscribing to that one as I will post future guidance on that channel
Thank you so much. I am utterly grateful. I have always thought I could never do this and had always hired someone for what I could have done by myself. Your video has been so helpful. You have saved meI
Was looking for a accountant but this has helped me so much so have saved the video for when I do my self assessment this year! I suffer really bad with things like this however this has helped me understand much better, you have saved me 250 quid! You legend.
Brilliant. Simple. What's shown in the video is just what you need to do. Many thanks for de-mystifying what ,for some, is a stressful affair!!
absolutely, it can be very daunting but most can do it with a little bit of guidance. thanks for the support 👍
As Nuno said, I rarely comment UA-cam videos, but I wanted to give you a big THANK YOU as your videos was SUPER EASY TO UNDERSTAND and answered many doubts I had. Very helpful video and highly recommended.
Greatly appreciated and thanks for making me one of those rare comments. I’m glad You found it useful. 👍
i have to say this was very simple and clearly explained i cant afford an accountant this year and this is going to sayme a lot of money thanks,actually given me the courage to fill fill out my own return for once
Thank you so much for your upload & info. This is my 3rd year @ self employment, & you most definitely have taken the headache out of the filling in of the self assessment form. Again, thank you.
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I'm so glad I found this vid. I have been procrastinating for a while and the deadline is looming, this vid has helped soothe my nerves. Thanks.
glad it helped!
It is my first year as self-employed I didn't know how do it you are video it's amazing thank you very much
I was confused about few of this question and you made it clear for me. Thanks 🙏
Straight forward and prompt explanation without beating about the bush like 90% of other video makers here on UA-cam!!!
Great work.
(On your next video can you show us how to (cough cough) fiddle (more coughing) my tax 🤣
Man, I rarely comment youtube videos, but this video helped me imensely. I cannot even describe how stressed I've been with companies asking loads of money to do my assessment.
Especially because I've made only 3k on a part-time private job, I didn't want to pay 500£ for someone to do this.
Again, thank you so much for taking your time in doing this video. Totally recommend this to friends and 've subscribed in order to support you.
I appreciate that a lot. Yeah a lot of accountants really milk it but for most people it's very straightforward. Of course it can get a lot more complicated and that's when you don't mind paying for the help. Thanks again for the support 👍
Yeah agree with you ... Most of the accountant charge high.. But if you have a medium or big sized business then you must take Accountant advise as there are so many rules about what is allowable and disalloawable expense for your business... If HMRC investigate and find out any problem then they will charge penalty ... And also Accountant can save you some tax also
Thank you for the help. A video with Step by Step is what I needed. No more 200£ payed to the accountant.
Hi, thanks, for the video. I've just watched for the first time. I will now collect the data and fill out the form as per the video. I normally pay an accountant to do it for me which costs around £450. Its 28/01/21 so I need to get this done!! 😁
Very well explained mate you are amazing and thanks so much for your help
this was 1 of the least stressful things to do everyone makes it out to be so hard, cheers for the vid
No worries
This is super helpful. Thank you. Finally feel confident to do my own this year rather than pay someone £300 to do it.
Thanks so much for your time on this, put it off for years and always got an accountant to submit it even tho I done all the figures & paid them for doing it lol so this year bit the bullet and done it myself, easy really thanks so much
glad it helped 👌
I literally can’t thank you enough for this. Thank you so much for explaining everything so clearly you’ve honestly saved me I was putting this off so badly as it was such a daunting prospect!
I’ve been the same. I’m tackling it today
I just found your UA-cam channel, it feels like a gold mine, I have been paying so much money to my account to do this. THANK YOU
Thank you. Try my other channel tax_uk as I have more up to date content on there
Thank you so much. Saved me so much time and stress and so well explained :)
Super super helpful. Glad I found this and know what to expect.
Thank you so much! I've just started earning over £1000 on my side hustle so I was investigating to see how I would do this next tax year. Your video makes me think it won't be as scary as I originally thought!
Glad it was helpful!
Never realised it was that easy.....nice and to the point vid
One of the more useful videos on the web. Thanks mate!
Glad you think so!
I just submitted my return and would not have gotten through it if it wasn’t for this video. Thank you so much 😊🌟
Glad I could help!
do you have to wait until April or can you submit it before?
@@kayilla6413 Would like to know too, I started self employment recently and really confused with dates. Did you find anything out?
This is my first year doing self employment as well working full time, and I have been dreading the self assessment as I had no idea what to do, thank you so much for the guidance!
Glad it helped, that’s great to hear. Thanks for the support 👌
Hi u said u was employed an self employed at the same time what did u do about ur employed earnings?? Did u declare them? How do u go about it on ur tax return I was doing the same thing at the time any help much appreciated thanks x
@@leonhough331 I have your same doubts.
@@leonhough331 you do declare it, however will only be taxed on your self employed income, as paye is already taxed.
Likewise. I've been having sleepless nights over this. This video made it look like a breeze. But I still need to go through hundreds and hundreds of receipts to work out my outgoings. 🤨
Thank you very much indeed, much appreciated, made so clear and easy. Thanks again.
Brilliant. Lovely and clear and easy to follow. Thank you
Thank you very much for this. You made the whole process much easier than I expected it to be!
great stuff. Thanks for the comment 👍
I've been putting this off since covid hit. We're now in 2021, thanks man, it's easier than I thought. Cheers
Not a problem. Glad it helped 🤘
Thank you so much for your vídeo. I made my first self assessment today and our video was really helpfull. Xx
Great effort of yours to make things effortless for us, many thanks, Stay blessed 🙂
This year im gonna try this - I believe this video has made me less worried- normally I have an accountant - but this year sadly they retired - and now I can't find one - so anyway thank you
Go for it! let me know if you have any problems.
Great video, very informative . Thanks. There is a short cut to avoid paying the penalties and beat the deadline.
Thank you for this video! It makes it seem a lot easier than I thought it would be
Glad it was helpful!
My accountant has disappeared into the ether but this has helped me a lot thanks mate
Thank you for the video. I do have a question. When recording "outgoings" would this include a record of petrol receipts, car repairs, equipment, work clothes and stationery? And would this part also include direct debits such as AA membership payments, car insurance, mobile contract, car tax, public liability insurance and any loan repayments you may have? I look forward to your comment. Thank you
Great video, haven't seen anyone else do something about this very good!
You're star! Always a stressful time for me but your guide helped to smooth it out, thank you!
Happy to help!
@@trader_uk1446 I need help desperately
Always struggled with this kinda stuff, this helped so much. Thank you kindly my friend.
Glad it helped!
Thanks for really appreciate you doing this video. I was paying an accountant over £1000 for doing this and they were useless. Will return it myself moving forward.
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I'm a 16 year old and i always do it for my mum because she doesn't understand english. You can definitely do it alone.
I'm going through this now. Paying £70 a month for an accountancy firm and when I ask them to do something for me they tell me to do it myself. After watching this video I may just get a refund from them and do it myself.
Hey thanks for the video . I am actually employed full time as well as self employed working as a delivery driver but as it's my first time filing the returns I did not save any expenses receipts ( wasn't aware I had to ) so I will not show any expenses and pay extra tax but main question is . Is there any way I can state this?
Thanks so much for making this video!! I was getting so anxious about doing my SA.
Your step by step guide is absolutely perfect!
Super helpful video. Step by step is handy and I’m gonna do my tax asap
Thank you for this. I’m really terrible at these things. I have a few questions:
1) I’m part employed and part self-employed. How exactly do I cover that on the form besides ticking both the options in terms of amounts. And will I put the total number including the employed salary into the final figures?
2) if I’m self employed but take work from different places, would it be sufficient just to put one business, given that it’s all self employed money or do I need to name the sources?
Did you ever get an answer for this??
So helpful thank you. I have a question, do you need to provide receipts with hmrc regarding your expenses? Thank you
You need to keep your receipts and supporting records for 5 years following the 31st Jan deadline but you don’t need to provide copies when submitting the return. They just want the numbers. If HMRC investigate you then they would ask to see the receipts etc that support the numbers.
Thank you
Super clear and extremely useful. Thanks man :)
good job...!!!!!!!!!! you save me from a lot of stress from my accountants full of themselves.
Hey there, may I ask a silly question?
I am at the 8:32 of the video and as a designer I had to commute a couple of times to London for the client but I didnt charge the travel expenses on my rate. Would that be needed to be included in the " TOTAL ALLOWANCE EXPENSES" or no? Thank you!! The video is so helpful!
Yes that would be an allowable expense so you should include it in the total allowable expenses box 👍
Hi, very helpful. It's my first year as self-employed. I've been working on site and 20% has-been deducted each time I've been paid. When adding the figure of what I've been paid. Would I put the figure before or after tax? So for example. If I've earned 20k a year, would I put 20k or 16k?
Cheers!
You’ll need to enter the gross amount in the turnover field which is the amount before they deducted the 20% tax. A few pages later you’ll then have the opportunity to detail how much Tax was deducted by the contractors which will ensure you’re not taxed twice.
Thank you so much for this brother, really appreciate it! 🙏🏽
Processing my Fathers Tax Returns this year (something my mother always did). Very helpful video.
Glad it was helpful!
I only started trading in December 2020. Do I still need to complete a self assessment tax return. Am abit confused. Thanks
Keep a spreadsheet of all your expenditures and money received. From 06 April 2020 to 05 April 2021. All your months before you started trading (Dec 20) will be not be taxable. So you'll have a load of blank sheets in your spreadsheet for alot of the months. But you don't need to do your self assessment til 31 Jan 2022.
Thank you do much. Very helpful
@@lilliannalule no worries
April 21 you of would have to file, yes
Thank you so much. This is really helpful.
Very informative and useful for peoples who are just started self employment like me. Thank you man.
Glad it was helpful!
Thank you so much. You held my hand through a worrisome process.
Glad I could help!
Thank you. I didn't have a clue how it worked and am currently waiting for my registration to complete. This will help me prepare with figures. Thanks again.
Glad it helped!
Great video-very helpful.
Thank you! I saved £125 the accountant used to charge me for my self-assessment.
Great vid, thanks!
Many thanks for your help and clarity! Top Notch
This is just what I'm looking for. Haven't done my tax yet but this video will be of great help.
Glad it was helpful!
So helpful thanks again!
Thank you so much for making this! Saved me a headache! :)
This is a great help, done mine and was worried about submitting. Watched this, tweaked a few things, job done 😁✅👍
Fantastic!
Thanks! Brilliant, that's help a lot 😀
Great tutorial, thank you so much.
Thank you so much for this great video!!
Brilliant clip. Much appreciated.
Thank you so much this really helps.
Simply brilliant! Thank you so much :)
You're very welcome!
Awesome video bro! I look forward to seeing much more of your content!
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Cheers mate nice and easy 👌
thanks - concise & helpful
Big stress reliever. This video is so helpful. Thank you
Glad it helped!
Amazing, you are a Star 💫
Thanks for this ..that £700 a year saved!
Wow. I can’t believe how easy this is, thank you! Now I’m hoping I don’t get absolutely shafted on my tax bill 😂
Thanks for this! I always get myself into such a tizzy when doing this so the walk through really helped me calm down!
I think it’s the same for everyone. Too many questions that aren’t really relevant for most people makes it confusing. Glad it helped 👍
Very informative. Clear
This was so helpful thank you! Made the process much quicker!
If you were employed with a full time job alongside being self-employed, would you select the "employee" option at the start or does the tax return focus solely on your self-employed business?
Yes this is correct you would tick that you had 1 employment and 1 self employment. They want to know about all sources of income even where tax has already been deducted.
Thank you soooo much, u r a star, 2020/2021 tax return I will be doing myself, I used pay £250 to accountant just because I didn’t have confidence, ur time and video give me a lot of confidence, next time I will do myself, if I get stuck I will be here again and I will request for a kind help. Thank you very much, recently I have graduated from BSc Accounting and I wanna do training, could you plzzz recommend any online training UA-cam channels
As much as this helps, I’d honestly just advise most normal people to get an accountant. If you’re self employed you’ve probably got the money to get one as there not the expensive of you look properly, and the best part is they sign it off on your behalf so if they mess anything up if comes back to them🤷🏽♀️ once a year payment of 150£ for peace of mind sounds better to me but that’s just me
This is so helpful, thank you very much!
Glad it was helpful!
Doing my first return this year very helpful
I hope the video helped.
@@trader_uk1446 very much so. Gave me a good idea of what to expect . My husband was worried about us lodging the figures. After seeing this he is more confident. Really great upload
Mate, you have save me £350. I give to me accountant all the information on a well organised spreadsheet and then he complete the form. Now, I don’t need him anymore as my accounting is quite straight forward. Thank you once again.
sounds like you were doing most of the work anyway. glad it helped 👌
Thanks for your effort ☝️
A big THANK YOU. 👍
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Thank you for taking the time Sir!
Glad it was helpful!