Self-Employed In Northampton? A Beginner's Guide To Self-Assessment Tax Returns

Self-employed individuals in Northampton, welcome to the comprehensive beginner's guide to navigating the world of Self-Assessment tax returns. Whether you're just starting out or looking to refine your understanding, this guide will walk you through the essentials of managing your taxes efficiently.

Understanding Self-Assessment Tax Returns


What is Self-Assessment?

Self-assessment is HM Revenue and Customs' (HMRC) method of collecting your paid income tax. While taxes are typically deducted from salaries and pensions automatically, individuals and businesses with additional sources of income, including grants and support payments, must report these in a tax return.


When to File Your Tax Return

The tax year ends on the 5th of April, and if you fall into the category requiring a Self-Assessment tax return, it should be submitted after this date. It's crucial to note that you must send a return if HMRC requests it; failure to do so could result in penalties and interest payments.


Sending Your Return

Online Filing or Manual Form

You have the option to file your tax return online or request a physical form (SA100) from HMRC.


Step-By-Step Guide On How To Send Your Self-Assessment Tax Return


Step 1: Gather Required Information

Before you begin, gather all necessary documents such as P60s, P45s, records of self-employed income, interest statements from banks, details of any pension contributions, and receipts for allowable business expenses.


Step 2: Access the HMRC Website

Go to the HMRC website and log in to your Government Gateway account. If you don’t have an account, you’ll need to register for one.


Step 3: Select the Self-Assessment Service

Once logged in, navigate to the Self-Assessment service. Follow the prompts or menus provided to begin the self-assessment tax return process.


Step 4: Start Your Tax Return

Select “Start a new tax return” or a similar option to initiate your Self-Assessment. You’ll be guided through various sections and questions about your income, expenses, and other relevant financial details.


Step 5: Personal Information

Enter your personal information accurately, including your Unique Taxpayer Reference (UTR) and National Insurance Number.


Step 6: Income Sources

Report all sources of income such as employment, self-employment, rental income, and interest from savings.


Step 7: Allowable Expenses

Deduct allowable expenses related to your self-employment or other income sources. Ensure you have valid receipts or records to substantiate these deductions.


Step 8: Tax Deductions and Credits

If applicable, claim tax deductions or credits such as pension contributions, charitable donations, or Marriage Allowance.


Step 9: Review and Double-Check

Before submission, review each section carefully. Ensure all information provided is accurate and complete. Double-check figures to avoid errors.


Step 10: Submit Your Return

Once you've reviewed and are confident with the information provided, proceed to submit your tax return. Follow the prompts to finalise and confirm the submission.


Step 11: Payment Details

If you owe tax, the system will calculate the amount due. Set up payment details for the amount owed, or if you're due a refund, provide the necessary banking information for the refund to be processed.


Step 12: Confirmation and Record-Keeping

After submission, you’ll receive a confirmation from HMRC. Keep this confirmation and a copy of your tax return for your records. It’s crucial to retain these documents for at least five years.


Deadlines

Meeting Submission Deadlines

Sending your tax return by the specified deadline is imperative. If you're unsure whether you need to complete a tax return, notifying HMRC by the 5th of October is necessary to avoid potential fines.


Filling in Your Return


Keeping Records

Accurate record-keeping, such as maintaining bank statements and receipts, is pivotal to completing your tax return correctly. These records serve as essential references while filling in your return.


Seeking Assistance

Don't hesitate to seek assistance when filling in your return. Various resources and professionals can help navigate the process more smoothly.


Paying Your Bill


HMRC Calculation

HMRC calculates your tax bill based on the information you provide in your return.


Payment Deadline

The Self-Assessment bill should be settled by the 31st of January. The amount of tax you pay hinges on the Income Tax band applicable to your earnings. Additionally, specific rates might apply if you're subject to Capital Gains Tax, such as selling shares or a second property income.


Resources and Assistance

For further assistance, HMRC offers a range of resources, or invest in 10.CA local accounting services in Northampton, which can provide personalised guidance tailored to your needs. Additionally, exploring online tax resources can offer valuable insights into various aspects of tax returns.



This guide aims to serve as a comprehensive starting point for individuals in Northampton stepping into the realm of Self-Assessment tax returns. By familiarising yourself with the process and staying proactive, you can ensure a smoother tax filing experience.


Get Help With Your Self-Assessment Tax Return Today With 10.CA!

Self-assessment tax returns might appear daunting at first glance, especially for those new to the process. However, with the right information and approach, managing your taxes becomes more manageable. By understanding the filing criteria, deadlines, and payment processes, you can navigate the world of taxes confidently.


Remember, seeking assistance from 10.CA chartered accountants and staying organised with your records are key to a successful Self-Assessment tax return. As a self-employed individual in Northampton, staying informed about your tax obligations empowers you to make informed financial decisions.

Company tax returns and accounts have gone digital

By Charlie Flockhart • April 21, 2026
HMRC and Companies House have confirmed that from 1 April, all businesses must use compliant, commercial software to file their company’s tax returns. As of 31 March, the free joint online service, commonly known as the CATO portal, from these two Government bodies has been removed and you must now use software to file company tax returns to HMRC. For the time being, you will still be able to file annual accounts at Companies House using third-party software, WebFiling services or paper filing. The decision has been made to end this service as it is “outdated and no longer aligns with modern digital standards”, according to Companies House. This change is in line with the introduction of the Economic Crime and Corporate Transparency Act, which implemented “enhanced corporation tax requirements and changes to UK company law.” It also follows on from a major IT security breach at Companies House, identified in March 2026, that exposed the WebFiling system and allowed some users to potentially access and amend the details of other companies. Although the breach has now been resolved and security strengthened, it has raised concerns about the reliability of GOV.UK One Login service.  Can you still amend previous returns using the free service? HMRC and Companies House have confirmed that now that the free filing service has closed, company directors will have to use commercial tax software if they need to make changes to a previously submitted Corporation Tax return or refile a rejected return. From now onwards, any previously filed financial information will no longer be available in the system, as it has not been retained and will need to be entered again. HMRC has said that, for amendments, it will also be acceptable to send a paper return to the Corporation Tax Services office. If you have previously filed financial accounts with Companies House and you want to make changes or corrections, this will also need to be done via commercial software or by sending paper accounts to Companies House via post. Are there any exceptions to this new rule? Companies can file a paper Corporation Tax return only in limited circumstances, such as if they wish to submit it in Welsh or can demonstrate a valid, reasonable excuse to HMRC. Otherwise, returns must be filed online using commercial software. If you are affected by this change and need help choosing and utilising commercial software to complete your Corporation Tax return, please speak to our team.

Capital allowances - New rules for a new tax year

By Charlie Flockhart • April 21, 2026
Capital allowances continue to provide an effective method for businesses to reduce their tax bills, by providing incentives for investment in eligible expenditure – typically plant and machinery. Historically, these reliefs have been subject to change and the 2026/27 tax year is no different, as the Government moves to alter two key reliefs – Writing Down Allowance (WDA) and a new First-Year Allowance (FYA).  Reduction of the Writing Down Allowance The WDA will be reduced from 18 per cent to 14 per cent on the main pool of qualifying plant and machinery assets. This change has been introduced on two different dates, starting with companies subject to Corporation Tax on 1 April and followed shortly thereafter by those subject to Income Tax, such as sole traders and partnerships, from 6 April. Businesses with large brought forward main pool expenditures are expected to lose the most from the reduction in the main rate of WDA. In the long-term, the change may also reduce incentives for investment in second-hand assets and cars, which benefited under the previous rules. The new First-Year Allowance To offset some of the impact of the reduction in WDA, a new 40 per cent FYA on main rate expenditure, primarily still covering plant and machinery, will now be available. This new FYA is intended to encourage investment in areas where other FYAs don’t allow, in particular, assets bought by unincorporated businesses and leases. Sole traders and partnerships will, for the first time, be able to get additional support at the point of investment, which means that more businesses will be able to reduce their tax bill in the same year as their investment. This is expected to give a quick cashflow boost to those affected and provide additional support for future investments. However, it is important to note that this FYA does not support investment in second-hand assets, cars or leased assets in other countries. Finally, the Government has also confirmed that small business owners will continue to benefit from tax relief on electric vehicles, as the 100 per cent FYA for zero-emission vehicles and charge points has been extended until 31 March 2027 for Corporation Tax and 5 April 2027 for Income Tax. This gives businesses greater certainty when planning ahead, while also providing a strong financial incentive to invest by reducing tax bills upfront. Want to make more of capital allowances? If you think you may be eligible for capital allowances, either due to the changes outlined in this article or more generally, then it is important that you claim the tax relief available to you. If you would like help reviewing the current capital allowances that your business can claim, please get in touch.

Government abolishes work-from-home relief

By Charlie Flockhart • April 21, 2026
Directors and employees claiming work-from-home tax relief will no longer be able to claim it from the start of the new tax year – 6 April 2026. Why is this relief being taken away? The Chancellor announced the removal of the work-from-home relief as part of her latest Autumn Budget. The main reasoning given for the abolition is that it will support the nation’s deficit reduction. HMRC has also said that it no longer believes it is fit for purpose or easy to police. Who could claim work-from-home relief? Work-from-home relief has been utilised by homeworkers since the early 2000s, helping them offset some of the costs of heating, lighting, broadband and other home-office expenses required to complete their jobs. The relief allowed employees and directors to claim a flat rate of £6 per week or a deduction for actual costs. However, those who do not claim the flat fee were required to provide evidence of the exact costs, such as an invoice or bill. Eligibility for the relief only applied to individuals who had no other choice but to work from home. For instance, where the business did not have an office or the daily commute was not feasible. Individuals who simply preferred to work from home did not qualify. Is there any relief still available for home workers? The only remaining tax-free support will be reimbursements made directly by employers. This applies only where the payments relate to demonstrated additional household costs and where the costs are incurred wholly, exclusively and necessarily for employment duties. For anyone still claiming work-from-home relief, it is worth reviewing your position now to understand how this abolishment will impact your take-home pay.