Step-by-Step Guide to Filing Your Self-Assessment Tax Return
Filing a self-assessment tax return can seem daunting, especially if you're doing it for the first time. However, with a clear understanding of the process, it becomes manageable. Here’s a step-by-step guide to help you through it: 1. Register for Self-Assessment If you’re self-employed, a landlord, or earn income outside of PAYE, you need to register for self-assessment with HMRC. This process provides you with a Unique Taxpayer Reference (UTR) number, which you'll need to file your return. 2. Gather Your Documents Before you start, gather all the necessary documents. This includes: Your UTR number National Insurance number Details of income, expenses, and deductions P60s, P45s, or P11Ds if applicable Records of any other income (like dividends or interest) 3. Log into HMRC’s Online Service Use your Government Gateway ID to log into HMRC’s online self-assessment portal. If you haven’t already set this up, do so in advance, as it can take a few days to receive your activation