Self assessment tax return help for sole traders
Self Assessment guide for sole traders. Covers who must file, deadlines, payments on account, penalties, and how to register with HMRC.
Tax & HMRC
Understanding how tax works is essential when you’re self-employed.
This section explains how the UK tax system applies to sole traders, including Income Tax, National Insurance, Self Assessment and VAT.
You’ll also find guidance on registering with HMRC, claiming allowances, meeting tax deadlines and preparing for Making Tax Digital.
Whether you’re starting out or checking that your tax affairs are in order, these guides explain the rules in plain English.
Start with these guides
Self Assessment and tax returns
Tax mistakes and common problems
Registering with HMRC
National Insurance and allowances
VAT and business taxes
How the Flat Rate VAT Scheme works (and the Limited Cost Trader rule)
Guide to the Flat Rate VAT Scheme for sole traders and small businesses. How it works, the latest HMRC rules, and when the Limited Cost Trader rate applies.
Making Tax Digital for Income Tax: exemptions explained
A clear guide to who must follow MTD for Income Tax, who’s exempt, and the key easements available for sole traders and landlords.
Self-employed? 31st July Payment on Account tax deadline looms
Payment on Account tax is due by 31 July. Learn who it applies to, how to pay, and what happens if you miss the deadline. Includes guides and links.
Self-employed unprepared for Making Tax Digital for Income Tax (April 2026 deadline!)
With the April 2026 deadline approaching for MTD for Income Tax Self Assessment (ITSA), new research shows how unprepared the self employed are for the change.
Online platforms must provide HMRC with sales reports on ‘side hustle’ businesses
If you make some extra money via a ‘side hustle’ – by selling online – you should be aware that digital platforms now share information about sellers with HMRC. You might need to pay tax on any profits you make – but it depends!
Over 5m yet to file self assessment returns – don’t miss the 31st Jan deadline!
HMRC says that by the start of 2025, over 5 million people had yet to file their self-assessment tax returns. Make sure you don’t miss the deadline!
Big gap between HMRC interest rate on late payments vs. refunds
In what one tax advisory calls the ‘elephant in the room’, there is a sizeable gap between the interest rate HMRC pays on late payments and the amount of interest it pays out on tax refunds.