Have you done your self-assessment?

Have you done your self-assessment?

If you are self-employed then you need to start thinking about completing your self-assessment tax return. If you are completing it online then you will need to have done it by January 2022 but if you want to apply for the fifth grant or have to report your income to tax credits then you may need to complete it before the end of July.

Some people chose to do their tax return themselves whilst others many enlist the help of an accountant. You may wish to keep records and spreadsheets of all incoming and expenditure and then pass it across to your accountant to check through or you may decide that you just want to be able to give them bank statements and receipts and let them manage everything for you. Obviously, the more work they have to do the longer it will take and the more they will charge you. You need to find an accountant or accountancy firm that you can trust as they will be handling sensitive information about your finances. It is often a good idea to use an accountancy firm or individual that has been recommended to you by a friend or colleague.