Photo of a UK self assessment tax return with calculator and pay

Self-Assessment is the bread and butter of bookkeeping, but it can be difficult, stressful and time consuming. We have years of experience helping businesses and small traders with Self-Assessment and can take over the process for you. We will make sure your tax return is submitted and filed correctly and in good time and, vitally, we will also make sure you are taking advantage of all the allowable expenses you can deduct.

The tax year runs from April 6 to April 5 the following year and you will need to send a tax return if you were self-employed in the last year.

As a self-employed person, your business will have various running costs, some of which can be deducted to work out your taxable profit.

Allowable expenses include:

  • Office costs – such as stationary or phone bills
  • Travel costs – fuel, parking, train fare etc
  • Clothing expenses – work uniform
  • Staffing – ie salaries and subcontractor costs
  • Premises – heating, lighting, business rates etc
  • Financial – insurances, bank charges and so on
  • Advertising or marketing – website, adverts etc

You can also claim capital allowances such as equipment, machinery and business vehicles. Tax returns must be filed by January 31st each year if you file online. Let us do the hard work for you – talk to one of our team today.