How To Complete The 22/23 Self Assessment Tax Return - SELF EMPLOYED

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  • Опубліковано 31 тра 2023
  • If you're self employed, this tutorial will demonstrate how to complete the 22/23 self assessment tax return. The on screen walkthrough will show which entries need to be made as a self employed individual.
    Need help with your tax return? Use one of the forms below
    To register for self-assessment (UTR/CIS) click here: bit.ly/utr-number
    If you need help with your Tax Return click here bit.ly/cis-rebate

КОМЕНТАРІ • 464

  • @user-uq3tv3gm9l
    @user-uq3tv3gm9l 24 дні тому +3

    Super helpful and better than any government HMRC explanations-thank you

  • @Amelia-Elizabeth
    @Amelia-Elizabeth 5 місяців тому +118

    Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.

    • @Patricia-Margaret
      @Patricia-Margaret 5 місяців тому

      @rachealhubert74 Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy

    • @ReeveLoon
      @ReeveLoon 3 місяці тому +2

      Bot

    • @ReeveLoon
      @ReeveLoon 3 місяці тому

      @rachealhubert74 Bot

    • @campcop9214
      @campcop9214 3 місяці тому +1

      Fortune favours the brave. "Sir Francis Drake"

  • @laurenlikesmusics
    @laurenlikesmusics 3 місяці тому +5

    I can’t tell you how helpful these are, I’ve been using your videos for the past 5 years when it comes round to this time of year. Thank you! ❤

  • @saheddd
    @saheddd 11 місяців тому +7

    Second year I filled my tax return watching your videos thanks bro 🙏

  • @kerryturner-long9765
    @kerryturner-long9765 10 місяців тому +6

    You literally saved my sanity. Thank you 🙏

  • @Shralps
    @Shralps 9 місяців тому

    Very helpful. Much appreciated!

  • @georgiearabella
    @georgiearabella 10 місяців тому +10

    This was very helpful and a nice feeling to go along with it with someone in the background - I work much better that way. My return was easy and straightforward. Thank you!

  • @loorob68
    @loorob68 3 місяці тому +3

    Thank you so much for another excellent "How to Complete a Tax Return' video. I have filed my own tax returns for the last 3 years which has been made possible by using your videos. Once again, you have made it all so much easier to understand with clear and concise information and it's a weight off my mind. Thank you once again and please keep them coming.

  • @user-zi2er5ol6g
    @user-zi2er5ol6g 11 місяців тому +46

    This was so useful! I set up as a self employed dog walker in November 2022 on top of my full time job and it felt like an absolute minefield! I now feel confident completing it myself. Thank you.

    • @perrysrawsoul
      @perrysrawsoul 9 місяців тому +2

      thanks for your comment - im in the same situation, attempting myself now

    • @xkanal8188
      @xkanal8188 9 місяців тому +2

      sorry to disturb, I have a day as same as you and additional do some extra work, what did you pick for the first questıon?

    • @dorotheanewham4264
      @dorotheanewham4264 6 місяців тому +1

      ditto, part time employed and self employed, now I feel more confident to do it myself and not pay an accountant!

  • @mariadillon860
    @mariadillon860 10 місяців тому +8

    Great video - really well presented and so informative 🤗You saved me the cost of paying someone to check over my Self Assessment that I have completed today for 2022/23. After a final check I will happily submit it 👍😃🤓

  • @oneactplaywright
    @oneactplaywright 6 місяців тому +9

    Finally, an amazing video from a very eloquent guy. This was really helpful in clarifying a lot of things. Thank you.

  • @jcontracting2603
    @jcontracting2603 11 місяців тому +3

    Bro your a life saver 💪🏻😅

  • @cathymorton4736
    @cathymorton4736 Місяць тому

    I knew nothing about completing self assessment. This video is amazing and takes the “fear” out of it and goes through the form page by page. I totally commend the information and the way the presenter has explained it in a marvellously simple way.

  • @preitikaur883
    @preitikaur883 3 місяці тому +9

    Thank you for this walk through, it has been a god send. I finished my first tax return in less than 2 hours. Thank you!

  • @Vidjay1
    @Vidjay1 4 місяці тому +3

    Very clear and pretty straightrorward! Thank you for this nice video!

  • @aoifemorgan3118
    @aoifemorgan3118 3 місяці тому +2

    Thank you! This is truly the most helpful and easy tutorial on youtube. This is my second year using and will be back next year again. Its very much appreciated!

  • @andrewmiller6049
    @andrewmiller6049 5 місяців тому +3

    Brilliant. Have completed my own return with help of this video. Gave me confidence I had completed it correctly and saved me a fee for someone else doing it for me. Thanks so much

  • @davidbanks8179
    @davidbanks8179 6 місяців тому +1

    Brilliant, concise video, thank you.

  • @idontknowsaid
    @idontknowsaid 3 місяці тому +2

    God! I wished this video was available when I completed my first tax return back in 2017! It was soo confusing lol - after many years and not hiring an accountant I still get confused when doing my returns, so thank you for this video!

  • @razaharoon3091
    @razaharoon3091 10 місяців тому +13

    Wonderful, simple and easy. You have explained in such a nice way. Extremely helpful. Thanks 🙏🏼

  • @jothompson9122
    @jothompson9122 9 місяців тому +2

    Fantastic it's so good to understand the whole system more thank you! 🎉

  • @clapzimprinted3619
    @clapzimprinted3619 6 місяців тому +1

    Brilliant thank you with being a first time self employed person part time. Learnt alot.

  • @stevetootell
    @stevetootell 6 місяців тому +1

    invaluable last year looking forward to a great guide again

  • @99snapsnap
    @99snapsnap 3 місяці тому

    Thank you so much.Very helpful and calming.

  • @whir4us
    @whir4us 4 місяці тому +4

    Can I say a great big massive thank you. Could not get my head around this, but you helped me through out. My very first tax return. Thanks again

  • @lesburybear
    @lesburybear 7 місяців тому +3

    Thank you so much for this video. Very reassuring to listen to someone go through everything, checking my own work at the same time.

  • @karenlove4025
    @karenlove4025 3 місяці тому

    Super helpful. Thank you for your clarity and pacing the information in a comfortable way.

  • @charityallsorts
    @charityallsorts 3 місяці тому

    Straightforward and helpful advice, which made completing the self-assessment return a lot less overwhelming. Cheers!

  • @nutralei
    @nutralei 3 місяці тому

    I'd pay a donation for this information! absolutely invaluable. demystified so much. Thank you for this video and explanation.

  • @gemmahayden2704
    @gemmahayden2704 3 місяці тому +3

    Thank you so much for this, I've been panicking as I have never done it myself. Very very helpful and easy to go along step by step

  • @lindam289
    @lindam289 3 місяці тому

    Thank you so much for this detailed, clear and precise lesson. You have melted all my stress of Tax Retuns. ❤

  • @samhobbs9116
    @samhobbs9116 9 місяців тому

    Cheers. See you next year.

  • @safjade
    @safjade 3 місяці тому

    This helped submit my first tax return, many thanks for the clear and concise info!

  • @pauletteroberts4090
    @pauletteroberts4090 3 місяці тому

    This was so helpful, as my first year as self employed thank you

  • @klashnacovak47
    @klashnacovak47 Місяць тому

    Thank you for the help and confidence needed to fill out my first proper tax return. Made it very eay and clear to go fill out as you spoke and showed each step.

  • @arabellareynolds6084
    @arabellareynolds6084 7 місяців тому +1

    This is so helpful and explained well. Thank you

  • @fuzexi
    @fuzexi 3 місяці тому

    15:23 Thank you for clarifying about Universal Credit!

  • @soosookim5819
    @soosookim5819 7 місяців тому +1

    THANKS SO MUCH! You're an absolute SUPER STARRRRR!!

  • @SimRacingCorner
    @SimRacingCorner 3 місяці тому

    Just a note to say thanks for the videos. These have been very instructive to help me understand the process and guide me through the online form filling. 👍

  • @justinbowers6686
    @justinbowers6686 3 місяці тому

    Fills me with dread every year, your walk through are so helpfull. Thanks very much.

  • @Elwooddudes
    @Elwooddudes Місяць тому

    Thanks again for the fantastic help! First year of true self employment… just sitting here with receipts etc now ready to start my return

  • @helencampbell
    @helencampbell 5 місяців тому +1

    Hi Adam - thank you so much for this - really helpful

  • @roxanaosorio4210
    @roxanaosorio4210 10 місяців тому +4

    It was so useful to find your video, answering all my questions, that I did my tax return with HMRC without problems. Thank you! very much appreciated!

  • @AliXxx-cb3we
    @AliXxx-cb3we 6 місяців тому

    Absolutely great, mate you a dimond, many many thanks 😊

  • @lorrainehalliday3359
    @lorrainehalliday3359 3 місяці тому +1

    Thank you so much, well explained - Top man

  • @ridingdigital
    @ridingdigital 5 місяців тому +1

    Thanks for the video! It would be super useful to have a video on self assessment for higher tax rate employed as well as self assessment

  • @ThePhippsShow
    @ThePhippsShow 5 місяців тому

    Great video, thank you!

  • @bobpattenden
    @bobpattenden 9 місяців тому +8

    Ive been self employed for 3 years now and this is the first place I go to before filling out my self assessment, thanks for making these videos every year.

    • @tax2ulimited
      @tax2ulimited  7 місяців тому +2

      Perfect, I am glad you find it useful

    • @deshawnE
      @deshawnE 7 місяців тому

      did you try doing the cash hack platform i did cash hack just a couple of days ago and got paid $10,000 in just a couple of hours

    • @parkashmagar8468
      @parkashmagar8468 Місяць тому

      is it UK taxation

  • @claireswan7187
    @claireswan7187 25 днів тому

    Thank you for the very helpful vlog, just filled in my first tax return with your help 😊

  • @Nintendojunior1010
    @Nintendojunior1010 3 місяці тому

    very informative. i never leave any good comments to any youtubr platform but wowwww he explained it all and never miss ANY DETAILS LOVE FOR HIM

  • @user-xf9lq2cg5d
    @user-xf9lq2cg5d 3 місяці тому

    Brilliant! Thx

  • @Mr23million
    @Mr23million 9 місяців тому +1

    use your video each year, I am grateful, thank you

  • @wjstephens
    @wjstephens 3 місяці тому

    Many thanks for this, really helpful and clear guidance.😀

  • @gabcreative
    @gabcreative 3 місяці тому

    Thanks very much for this. Very helpful 👍

  • @Juli90246
    @Juli90246 11 місяців тому

    Ghana you very much!!!! You’re awesome 🎉

  • @AngelaPeters
    @AngelaPeters 3 місяці тому

    So incredibly helpful every year. Genuinely tell everyone I can about what Tax2u do. Any customers you get after being so kind and sharing all this information for free is brilliant. I do wish all businesses were as transparent as your team. Thank you!

  • @amazinggrace9573
    @amazinggrace9573 3 місяці тому

    This is so helpful, thank you so very much I just submitted my tax return 1 minute before midnight and it went through😅. I will definitely subscribe your channel. God bless you

  • @cockneycutie30
    @cockneycutie30 4 місяці тому +4

    Thank you so much for providing such a helpful video. I've just done my first one and was so nervous about it. Honestly, thanks so much :)

    • @tax2ulimited
      @tax2ulimited  4 місяці тому

      You are welcome. If you need help, just sends us an email to info@tax2u.co.uk and we can provide a competitive price and help you.

  • @eyeinthesky74
    @eyeinthesky74 Місяць тому

    Well explained thank you👍

  • @invalidude
    @invalidude 5 місяців тому +4

    This was great to follow! Thank you so much!
    Only one thing I don't understand: Why does the amount subjected to Basic Rate taxation (£37,430.00) differ from the one subjected to plus Class 4 National Insurance contribution (£38,092.00)? How is the latter calculated?

  • @RenataRazmiene
    @RenataRazmiene Місяць тому

    It helped a lot. Thank you

  • @carolward1142
    @carolward1142 4 місяці тому +2

    This is brilliant - thank you so much!!! I used similar video last year and am back again ... especially grateful for your really clear explanation of payment on account ... now I understand!! :)

  • @lianablacknanos
    @lianablacknanos 5 місяців тому +6

    So helpful!! Every year I fill my tax return stress free just following the video step-by-step! Great work!!

  • @worzelgummidge3617
    @worzelgummidge3617 3 місяці тому

    Fantastic video, will be really usefull when I totally complete my first tax return tommorow 👍

  • @williambishop4971
    @williambishop4971 3 місяці тому

    Very informative and well delivered

  • @Shralps
    @Shralps 23 дні тому

    Used for the second time. Thanks again.

  • @z.k8142
    @z.k8142 4 місяці тому

    Thank you, easy and straightforward advice, helpful 👍. Pls keep up

  • @michellebox7975
    @michellebox7975 3 місяці тому

    A massive big thank you so much wow it's finally done

  • @annegallienvoices
    @annegallienvoices 4 місяці тому

    MERCI SO MUCH !!!

  • @Ambersmusic11-.
    @Ambersmusic11-. 6 місяців тому +9

    I’ve been paying over £330 a time for my accountant but I am going to do my own as I only worked 3 months before I went on maternity. Thankyou so much

    • @tripleggg4786
      @tripleggg4786 Місяць тому

      Hey, am in a similar situation did you make under your personal allowance by any chance for those 3 months?

    • @Ambersmusic11-.
      @Ambersmusic11-. Місяць тому

      @@tripleggg4786hi sorry what do you mean? I completed my tax and everything came back fine so I’m glad I did it myself. I did make anything for myself in the 3 months as my outgoings were more then what I took in as I had days off from my pregnancy etc

  • @smellthecoffee5314
    @smellthecoffee5314 3 місяці тому

    Thank you so much.
    Subscribed
    Very good video

  • @lynnshaw5606
    @lynnshaw5606 8 місяців тому

    A really useful video, thank you very much

  • @IlonaJosiane
    @IlonaJosiane 4 місяці тому +1

    It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.

  • @adamfarid1788
    @adamfarid1788 18 днів тому

    Thanks very much very helpful video

  • @georgienchev715
    @georgienchev715 Місяць тому

    Brilliant ☺☺☺☺ Thank you , that was what i need !

  • @somewheredifferent
    @somewheredifferent 14 днів тому

    Very helpful. Be great to know exactly what the expense columns are in the self-assessment - so I can match my accounting app to be the same so that when I fill in the form it all matches up.

  • @christianbelchior1506
    @christianbelchior1506 7 місяців тому +1

    Thanks, it was very useful.

  • @lmd37
    @lmd37 4 місяці тому +1

    A really excellent video that was indispensible. Many thanks.

  • @user-mm2lx4cy5s
    @user-mm2lx4cy5s 9 місяців тому

    Could you do a video on a partnership return? Thank you!!!

  • @koname-vr8jn
    @koname-vr8jn 3 місяці тому

    very accurate explanation excellent step by step guide thank you very much this video helped me alot

  • @tobyolan5032
    @tobyolan5032 5 місяців тому

    Thank you very much🙂👍

  • @kimsandy8969
    @kimsandy8969 7 місяців тому

    Thanks!

  • @numberonesuperman
    @numberonesuperman 3 місяці тому

    Really enjoyed this video thanks. I'll definitely be in touch if your services are required when I start my business this year.

  • @catherinebrench2195
    @catherinebrench2195 29 днів тому

    Thank you so much, just about to start my own small business (So scary!.)

  • @paulseik22
    @paulseik22 3 місяці тому

    nice and easy to follow

  • @jpflooring
    @jpflooring 7 місяців тому +3

    brilliant, helped me out massivley with my return, used to pay £100s for accountants, didnt realise it was this easy!

    • @tax2ulimited
      @tax2ulimited  6 місяців тому

      Good to hear, thank you

    • @evansrenee723
      @evansrenee723 2 місяці тому

      I have a question... As I am paid CIS , I have worked for a short time with an agency.. the p 60 was submitted by the agency and now I am confused in finishing tailor for me bit in the assessment

  • @harestileheep9312
    @harestileheep9312 4 місяці тому

    Very very helpful, thanks.

  • @shirleyw4708
    @shirleyw4708 7 місяців тому +1

    Thanks a lot! Reading it right now. I'm a Canadian just moved to the UK, there's so many differences between Canada (Quebec) taxes and UK taxes!

    • @tax2ulimited
      @tax2ulimited  6 місяців тому +1

      Interesting! I bet there are many differences. If you need help please email us at info@tax2u.co.uk

  • @thhhumbsup4718
    @thhhumbsup4718 4 місяці тому

    Thank you very much

  • @SarahKhan-
    @SarahKhan- 3 місяці тому

    Thanks very much

  • @auntierainbowauntierainbow2995
    @auntierainbowauntierainbow2995 4 місяці тому

    Thank you so much for your video. May I know which section should we choose if we have overseas saving interest from the bank to be declared?

  • @peacepuffz
    @peacepuffz 4 місяці тому

    Thanks

  • @CuillinG
    @CuillinG 4 місяці тому

    Thank you 🙏

  • @MrGoandrush
    @MrGoandrush 3 місяці тому +2

    Great video, thank you very much! I have the following questions
    Investment interest as income:
    If it is invested only but no gain realised on them (still on the investment account and did not touch since) do I need to indicate that?
    The money invested in stocks, futures, etc.. I see gain and loss on them but everything stays on the investment account, nothing realised yet.
    Investment as expense:
    if I invested money in the 22-23 period is it count as an expense?
    (Eg: unit linked insurance (for pension saving purposes), or property fund saving for long term (to buy a property in 10-20 years later)
    Or the bank`s invetment account where I can buy stocks.
    Cash back on black friday offers. Is it taxable?
    Refunds from shopping (damaged item, or discount)
    refunds from post office lost my parcels what I sold online and I claimed the insurance for loss
    Import/export online buy and sales
    Do I enter these as normal expenses right? Or is there any additional work with these invoices?
    (Eg: claim back custom fees, or any tax related to import/export)

  • @stavrosbolos2852
    @stavrosbolos2852 3 місяці тому

    Thank you very much! Do you pay Nin contributions together with tax or separately?

  • @perrysrawsoul
    @perrysrawsoul 9 місяців тому

    I have a full time employed job, and I also run a small self employed business on the side that I am trying to build. In 2022/23 my side business generated £2,213.37 gross income. My expenses for that year were £352.14. Is it better for me to enter in £1000 for trade allowance instead of declaring my detailed expenses in order to reduce my gross income, and thus then pay tax on the reduced gross income amount? From what I understand from your explanation I think this is what I can and should do. Many thanks for any help and thanks for the video

  • @MC10155
    @MC10155 6 місяців тому

    Amazing vid thanks. So if I use cash basis I do not need to note my expenses as I would get the 1000 tax free?

  • @kimsandy8969
    @kimsandy8969 7 місяців тому

    THANK YOU!!!!!!!!!!!!!!! I can actually sleep tonight! 😅

  • @masonhogarth7880
    @masonhogarth7880 10 місяців тому

    I am a full-time employee. But always go to an accountant for a tax return. Could you do a video of how to do a tax return for people like myself. If you already have dont it, can you post the link.
    Thank you

  • @lathankyparanchothy7106
    @lathankyparanchothy7106 3 місяці тому

    Hi, thank you so much for this video! You are a lifesaver!! I am not sure if this is the correct place to ask but I have accidentally put X in the section "If any of your businesses received coronavirus support payments (such as CJRS) you must put ‘X’ in the box to declare that they have been included when calculating profits in the period of this return" even though I have never claimed or received coronavirus support payments. Will this be a problem?