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Filling Out a UK Tax Return for Sole Trader

Filling Out a Tax Return Online for Sole Trader Self Assessment


Are you one of those people, who needs to fill out a Tax Return, and have decided that you are going to do it yourself?

Have you given it a date in your calendar, when you are going to do it? Have you got a checklist together for preparation? Have you allocated time for when you are going to do the preparation?

If you're anything like most people, who decide to do their own returns, then your answer was 'Yes' to the first question, then 'No' to the rest. Which more often than not leads to tackling it on the date that you were given to do it by, which is the SUBMISSION DEADLINE, 31st January [for Online Filing].

As a result, you are probably not in a funny mood at all.


Short Tax Return 2016/17

For Sole Traders with Turnover Below £82K

 Ever wished it was Easier to oversee Self Employed Tax calculations?

My aim was to achieve just that with the below infographic & blog, so please do let me know if it helped you.

The good news is, You DO NOT NEED TO do these calculations yourself, when submitting your Tax Return Online, or have someone do that for you. The Online Submission system does all these for you BEFORE your return is submitted.

This is just to put your mind at rest, before you start dealing with your Tax Return.

Let's Get started. I wanted to give you a map that will get you from fear and confusion to clarity a lot quicker than reading through countless articles, blogs, forums, etc.

Due to the limited nature of a pretty visual design, there's only so much that can go onto the infographic, therefore this article is here to provide more detailed information. However, the visual is designed to help you remember, once you've read the article a lot easier, then otherwise.

So, The below is for you, if you are in the Short Tax Return 'Club', which means that your Turnover is below £82K per annum [in 2016/17 that is] 

Let's get started:


Your HMRC Agent

Why Authorise an Agent for your Self Assessment

After my last Bookkeeping Q&A Workshops, the function of an Agent came up in a conversation.

It is one of those things, that until you request somebody to file your return on your behalf, or you find yourself in a sticky situation, you don't necessarily know about.



Overpaying Tax?

Spreadsheet V Software



This is not the first time I come across the same pattern. I have absolutely no problem with spreadsheet-bookkeeping in theory. The problem comes from the reality of its real-life context.

See, our memories have not been designed to remember everything. Our Conscious memory is only able to carry around a handful of information at any one time. It is the Sub-Conscious that handles the rest. This is at the very route why more and more gadgets, devices and functions appear around us. Our brain is best at focusing at a desired outcome and making it happen, especially in business.