Self Assessment tax returns: a plain English guide for sole traders in Aldershot
Confused about self-assessment? Our Aldershot-based bookkeeping team explains everything you need to know - deadlines, what to include, and how to avoid costly mistakes.
Every year, thousands of sole traders and self-employed individuals across Hampshire face the same stressful experience: the self-assessment tax return deadline looming, a pile of receipts to sort through, and no clear idea where to start.
The good news? It doesn't have to be that way. In this guide, our team at Genie Ledgers breaks down exactly what you need to know about self-assessment - in plain English, with no unnecessary jargon.
Who needs to file a self assessment tax return?
You need to file a self-assessment return if you're self-employed as a sole trader and earned more than £1,000, a partner in a business partnership, a company director, or if you have untaxed income above a certain threshold (e.g. rental income or investment income). If you're unsure whether you need to file, it's always better to check - penalties for late filing can add up quickly.
What are the key deadlines?
5 October — Register for self-assessment (if filing for the first time)
31 October — Paper return deadline
31 January — Online return deadline AND payment of tax due
31 July — Second payment on account deadline (if applicable)
At Genie Ledgers, we manage your self-assessment proactively - reminding you of what we need and when, so you never face an avoidable fine.
Need help with your self-assessment in Aldershot or the surrounding area? Our friendly team is here to help. Get in touch for a free, no-obligation consultation.
