Tax Returns - Is there a REALLY EASY guide?

[Ashley_Price]

My accountant is retiring and so I will need a replacement.

But my accounts are very straight forward, income and outgoings, so I am wondering if rather than finding a new accountant, I wonder if there is a really simple guide to filling in your Tax Return so I could do it myself.

 

[MyAccountantOnline]

My accountant is retiring and so I will need a replacement.

But my accounts are very straight forward, income and outgoings, so I am wondering if rather than finding a new accountant, I wonder if there is a really simple guide to filling in your Tax Return so I could do it myself.

Are you a sole trader Ashley or do you have a limited company?

 

[Daybooks]

Generally it is straightforward and you just need to populate the revelant boxes with the relevant amounts. Which tax return type and which boxes depends upon the type of legal entity (person, charity, company etc.) and generally accepted accounting principles; which also varies in scope depending upon the legal entity.

Having established the accounting profit you then just apply the appropriate legislation e.g. Income Tax (Trading and Other Income) Act 2005 (ITTOIA 2005) or Corporation Tax Act 2010 (CTA 2010) as applicable.

My electrician tells me rewiring a house is straightforward but he doesn’t recommend I try it. I agree and let him deal with those matters; I appreciate the training he did that makes it easy for him.

Good luck.

 

[Ashley_Price]

Are you a sole trader Ashley or do you have a limited company?

Sole Trader.

 

[Ashley_Price]

My electrician tells me rewiring a house is straightforward but he doesn’t recommend I try it. I agree and let him deal with those matters; I appreciate the training he did that makes it easy for him.

Good luck.

Technically yes, but you would still need to comply with all the safety rules that rewiring a house demands.

 

[Newchodge]

Sole Trader.

Closely following the guidance on the HMRC site as you complete the form would be the best guide. You can do it as a draft, check it over afterwards and then submit it.

If you are planning to do it this year you need to register and get an activation code, and there isn't much time left!

 

[Ashley_Price]

Closely following the guidance on the HMRC site as you complete the form would be the best guide. You can do it as a draft, check it over afterwards and then submit it.

If you are planning to do it this year you need to register and get an activation code, and there isn't much time left!

Thank you! My accountant is doing this year's one, so I need to find an accountant for post April 2026.

 

[MyAccountantOnline]

Sole Trader.

Unfortunately you wont find one simple guide as you have so many aspects to deal with. The Gov.uk website is probably the best place to look.

Do also bear in mind MTD (Making Tax Digital) is something you may need to deal with from next year. If your current accountant hasn't discussed this with you yet do ask them for advice. It's going to be a big change for many sole traders.

 

[Daybooks]

Technically yes, but you would still need to comply with all the safety rules that rewiring a house demands.

You mean there isn’t really an easy guide? Good job I took his advice!