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No-one really enjoys filing their Self Assessment. It\u2019s that unwanted chore that you put off until the last minute, before flying into a mad January panic when you realise time\u2019s almost up. Our friends at Crunch<\/a>, the online accounting specialists, take us through a few hints to help freelancers get through it.<\/strong><\/em><\/p>\n It might not surprise you to know that, historically, Self Assessment deadline day (31st January each year) is an extremely busy day at the offices of HMRC. It also might not come as a surprise that they rake in millions from late-filing penalties every year<\/a>.<\/p>\n Getting your documents together and filing early are the safest ways to avoid a Self Assessment headache. With that in mind, here are three ways you can get yourself ready for the Self Assessment deadline.<\/p>\n <\/p>\n Make sure you\u2019re registered<\/strong> You can register online, by post or by phone. You\u2019ll need your National Insurance number and your personal and business details.<\/p>\n Once you\u2019re registered, HRMC will send you a Unique Taxpayer Reference (UTR) number in the post, which you can use to register for their online services. This process will become far easier when HMRC rolls out online tax services, but for now, you\u2019re in the hands of Royal Mail.<\/p>\n If the deadline has passed you by, check out our \u201cSelf Assessment: What happens if I miss the deadline?<\/a>\u201d article for more information.<\/p>\n Keep comprehensive records<\/strong> You can find a complete list of records in our \u201cHow to complete your first Self Assessment<\/a>\u201d article. If you\u2019re ever in doubt of what you need to keep a record of, it\u2019s better to err on the side of caution, it\u2019s usually a minimum of five years after the Self Assessment deadline, or at least six years from the end of the last company financial year they relate to, if you\u2019re running a limited company. Of course, the best advice we can give you is ask them what best suits your business.<\/p>\n Evidence of relief<\/strong> Again, if you\u2019re ever in any doubt over what you can and can\u2019t claim for as a business expense, your best bet is always to check in with a specialist. You can also check out our articles on expenses you can claim as a sole trader<\/a> and as a limited company<\/a>.<\/a><\/p>\n More help for Self Assessment<\/strong> We\u2019ve also got a range of helpful Self Assessment articles, including \u201cDo I need to complete a Self Assessment?<\/a>\u201d and a handy jargon-free Self Assessment business guide<\/a>. If we still haven\u2019t convinced you to get that Self Assessment in early, you can find seven reasons to file early here<\/a>.<\/p>\n ProductionBase Discount<\/strong> Contact Crunch today for a free consultation.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" No-one really enjoys filing their Self Assessment. It\u2019s that unwanted chore that you put off until the last minute, before flying into a mad January panic when you realise time\u2019s almost up. Our friends at Crunch, the online accounting specialists, take us through a few hints to help freelancers get through it. It might not […]<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","footnotes":""},"categories":[11],"tags":[18,198,637,154],"series":[],"class_list":["post-2745","post","type-post","status-publish","format-standard","hentry","category-tips-and-tricks","tag-accounting","tag-crunch","tag-self-assessment","tag-tax"],"episode_featured_image":false,"episode_player_image":"https:\/\/www.productionbase.co.uk\/blog\/wp-content\/uploads\/TOTI-Podcast-Artwork.png","download_link":"","player_link":"","audio_player":false,"episode_data":{"playerMode":"dark","subscribeUrls":[],"rssFeedUrl":"https:\/\/www.productionbase.co.uk\/blog\/feed\/podcast\/turn-on-tune-in-2","embedCode":"
\nThe most important part of getting ready for the deadline is letting HMRC know you need to meet it in the first place. You\u2019ll need to register with HMRC<\/a> by the 5th October after the end of the tax year you\u2019re looking to file a return for (e.g. when you file for the 2017\/18 tax year, you should have registered by 5th October 2018 – if you haven\u2019t yet done so then you need to register as soon as possible to avoid possible penalties).<\/p>\n
\nOne of the most important things you\u2019ll need to do to file an accurate Self Assessment is to keep comprehensive records. The sorts of things you\u2019ll need to keep records of include:<\/p>\n\n
\nIf you\u2019re planning on claiming any expenses or tax relief, you\u2019ll need to be able to prove it to HMRC when you file your Self Assessment. Some of the things you can claim back as an expense include:<\/p>\n\n
\nThankfully for those who do <\/em>need some support, help is at hand. We recently held a Self Assessment webinar, covering everything you need to know about Self Assessments. Whether you\u2019re a Self Assessment novice or a seasoned pro, our webinar has all the tips and advice you need to make this year\u2019s submission the easiest yet. Check it out here<\/a>!<\/p>\n
\nAs a freelancer using Crunch, managing your work finances becomes quick and easy. You\u2019ll get access to our simple online accounting software, expert accountants and thanks\u00a0to our partnership with ProductionBase, all PB members receive an exclusive 10% discount<\/strong> on limited accountancy packages for the first year.<\/p>\nHow To Get Ready For The Self Assessment Deadline<\/a><\/blockquote>