How To Complete The Self Assessment Tax Return For Self Employment 23/24

[@ElaineStewart-p4u]

Would love a video for those who have a side hustle alongside employment please 🙏

[@AngelaPeters]

EVERY YEAR I am so thankful for this company. So so helpful.

[@dylanwilson7544]

it's like CHRISTMAS this guy comes once a year and I'm very grateful for him 🥳🥳🥳

[@NikkiHarris-x4u]

Massive thank you for this, I have now submitted my first tax return and saved myself money rather than paying an accounting company to do it.

[@Island-Media]

hey, when you register for self employed - does it take a while before you can actually submit a tax return?

[@Mr23million]

Dude , you're a legend! Use your vid every year. Please continue each year, thank you

[@carlmcdermott3794]

First time filling my tax return. Couldn't have done it without this video. Thanks.

[@SEPK09]

Thanks Mate very thorough talk through thanks.

[@antonywalker1258]

Could you please do a video on a self assessment on employed work and self employed for 1 person. E.g. have a side hustle

[@graham1489]

Brilliant video, very clear and concise. I work from home as self employed and wish to use Simplified Expences, where do I enter this information on my submission? Many thanks, Graham

[@esenhoruz729]

Thank you so much for your video. Easy, to understand each step. I made myself after six years and it was with you extremely helpful. I have not paid this year to accounting £650 :)

[@j7wal]

This is the FIRST time I have done a self assessment tax return. My accountant retired last year and nominated a machine as an alternative accountant (so impersonal) Anyway! Thank you so much for the step by step guidence. I submiited mine today while having your video side by side next to my taxreturn page. You go into great detail which is great, BUT! Can you just say "click next page" when you come to the end of the page. I got a bit lost at times when you clicked next page without saying. Idiots like me can easily get lost following you especially when doing my real tax return live at the same time. Thanks again.

[@tonyrussell496]

I new to self employment as a sole trader since November 2023. Iv rang HMRC for a UTR number 2 months again but not had one sent. I Have signed up to a government gateway account which is all goodi have login details. Here's the problem... I'm submitting my ID which is my Driving licence & Passport but it's not accepting even though I have done this 4 times and all is 100% correct the details ...I now have only 1 attempt left before the gateway acoount is frozen . It's burning my head out the fact I'm wanting to do a self assessment but it won't ,etc me do it. I give up !

[@zoolmakana4783]

Hi, I hope you got your UTR number bc I am facing the same problem

[@jennawoodhouse5565]

I have also had this problem. If you look on the hmrc website and make a complaint and explain you keep applying but your not receiving it someone will call you and sort your UTR for you.

[@aurorep9242]

Thanks for much for taking the time to explain it step by step, so useful!

[@teresabrackenbury3205]

This is brilliant, first time i’ve done the return for myself, thank you!

[@jodybarnes]

Great video, just did my own tax return for the first time instead of paying an accountant to do it 👍🏻

[@GreggC123]

Being my first time completing self-assessment, this was really, really useful and helpful. Thanks!

[@campcop9214]

What is a fair calculation for internet usage for someone who sells strictly online? Would 50/50 split between business and personal be a good general rule of thumb to claim?

[@alamo11]

Thankyou very much for this very comprehensive tutorial. Much apreciated. Thanks once again. Because I am 72 years old I am wondering if there is a provision for me to state that i dont need to pay ni contributions. I would be really gratefull if you could confirm where it would be. Thanks once again

[@dadamdilby]

What do you do if you paid more for your "payments on account" for last year than you ended up owing for this tax year?

Q: Can you help me understand how to correctly complete the Self Assessment Tax Return? I have worked in the hospital as bank staff and taxes were taken out for the tax year 2023-2024 as mentioned in my P60 for bank shifts, the same is with my permanent role, but in the middle of March I started working in a GP with extra shifts as a self - employed and gain less than a £250 for March 2024. 1. Is it necessary to do a tax return? 2. Do I have to complete SA102 and SA103 for self employment for this tax year? 3. Do I add YES for the question 'Did you receive pension?' when I haven't received any money but I will to the pension time?

[@lianablacknanos]

Hi there! Do you have a video tutorial - showing a way to complete the self assessment tax return if you are full time employed and self employed at the same time for 23/24 by any chance? Thank you! Your videos are the best

[@MarrakechT]

In the 'Tailor your return' section you'd tick that you were employed and fill in that section.

[@lianablacknanos]

@@MarrakechT Thanks Marrakech but there are more questions to follow this, so I was wondering if there is a similar video tutorial quite analytical to avoid confusion

[@MarrakechT]

@@lianablacknanos Ah!

[@ajoypaul30]

Massive thank you for explaining the self assesment tax return in the u.k Can i request to make a video only for how to file in self assesment tax return for people who have ofshore interest income and is a tax resident of U.K

[@mrbigvanlife7130]

Really good video ! Question though - if I am self employed buying vans and converting to camper vans. I remain below £85k turnover (sales) can I follow the principles in this video. Eg buy a van £6000 spend £2000 to convert it with various parts and sell for £9000 my profit is £1000.

[@Rideitoutyoutube]

first time doing it, brilliant video. not all heros wear capes

[@explorewith_mi]

Every year your videos are helpful and you explain everything in detail. Thank you.

[@donnachanner463]

Thank you. Easy explained.

[@davidswan1414]

Brilliant. Clear and easy to follow. Thank you!

[@rossmcculloch4865]

Not the form that comes up for me. I’ve a section on ‘deductibles’

Been using this channel videos advice and examples how to do self assessment for last 3 years absolutely wonderful i haven't had no problem with hmrc and save massive accountants money for my self love you guys thanks so much for your help.

[@SiSiK.M.]

Thank you for this video!

[@Tatiana-tw2ju]

thank you very much for this video , submitted my first tax return, you are the best!!!

[@HavingFunWithAvyan]

I have only watched 5 minutes of video so far, but 1000 thanks for doing this video. I got some confidence I can do my self-assessment myself.

[@cdelboux1]

Just completed my first self-assessment and this video was a huge help - thank you!

[@helenward681]

How can you get a salary if your a director of a limited company without it being PAYE and therefore an employee? I don't get that question? Does a pension paid directly to a pension provider for a director from the company (not through the payslip) count as director salary? I'm assuming a dividend doesn't count as a directory salary?

[@revanslacey]

29:15 My tax return doesn't give me the option of recording my expenses as a single value. Am I to understand that I am forced to split them out using their categories?

[@mauricioherminiocardoso5394]

Every year you help us! I'm very grateful. Thank you so much.

[@elephantandcastledaynurser6984]

Hi, very helpful tutorial. I have problem with filling in The Balance sheet page 1 and 2 in my SA for 2023/24 and I did not see your explanations regarding these request for my tax return. Could you please advise me what to fill in in this balance sheets? Many thanks

[@astonwebbo]

Having tried to speak to HMRC who are beyond useless, could you give any tips on how to fill out a LATE self assessment form, from the year 22/23?

[@HappyBombs]

Love these - helps so much. Thanks for creating them.

[@blueberrypancakes1974]

I keep getting a much higher number than I anticipated, it is as though I am paying 40% tax despite earning well under £45,000 per anumm in both my employed and self-employed jobs?

[@hithere5815]

Very clear. Well explained. I am about to do my first self assessment.....thank you

[@michaeldrennan9418]

Have you got a tutorial on experience, what should you claim for and what not etc... Would really appreciate this many thanks

[@mikegleed5842]

Clasa 2 National Insurance is being scrapped next year? 👀 00:25:15

[@harminderkambow9642]

Wonder if anyone can help with a simple (I hope) question. I work in full time employment and taxed under PAYE. I also do a side hustle on Airtasker doing handyman tasks on the weekend The gross income is over £1,000, so i've registered as self employed/self assessment to declare this side hustle income. Does it matter where I record this income? Under the 'Self employment' section, or under the 'Trading/miscellaneous' income? I've currently put it under the 'Trading/Misc' income section. It doesn't effect the overall tax liability, but wondered it if matters in any way?

Thank you so much! This really simplifies a horrible process. Very thankful!

[@FrancescoOddo-k6h]

I think u are amazing, thank you so much for your videos, they helped me a lot.

[@jacekkoperkiewicz4223]

Thank you SO MUCH for your video. It helped us a lot!!! Without this video we cannot fill our forms. Thank you

[@dkaradia]

Really helpful thank you. Life saver!

[@nataliiakravets9060]

Please help! "Did you receive any UK pensions, annuities or state benefits, for example, state pension, occupational pension, retirement annuity, Incapacity Benefit" Does this include Universal Credit?

[@lowfidelityfeatures-sn4eq]

Does anyone have experience with being employed for 6 months and then self employed for the other six months of the tax year? How do you report the income then?

[@rupanag]

Currently my agent does the self assessment on my behalf. I have authorised them using the HMRC authorisation form. Now i want to remove the authorisation from my agent and do the self assessment my self going forward. Do you have any video to explain the process to revoke consent/authorisation from agent?

[@angelbloom7697]

Great Video thank you so much! ❤

[@meetdamien]

Once again ... thank you for your service

[@laura-sandy1492]

Hi, amazing video btw. Just one question though: I'm confused. The tax year usually runs from April 5th to April 6th the next year, but how come you need to submit your returns by the end of January? That doesn't make sense to me, as that would mean the month of February and March are not getting taxed, or they go into the next tax year, even though they are not part of the April to April financial year. Please could you or someone else kindly clarify this?

[@ksbiti6721]

Very helpful video 👍 I’m a driving instructor, I bought a car last year for £25000, I just wanted to how to put through for tax return? Thanks

[@JohnEvans-w3e]

my accounting period is different to the tax year dates, I have to bring my accounting dates in line this year but really struggling to understand what goes where on my tax return, help

[@joelloyd7651]

How do I actually pay the class two national insurance ?

[@JenniferWoods-w3e]

Could you tell me why withdrawals from my SIPP drawdown account always show as if they are payments from an employer and what should I do about this please?

[@KLRCAT]

I'm currently working 2 jobs while also registered as a sole trader for my own business. How would I go about doing my self assessment in this situation?

[@pequiporto6919]

Your videos are so helpful. Thank you very much!

[@timcoventry7292]

Does this apply to directors of a limited company?? Thanks

[@theodoreuzunov1936]

Hi there, I am self employed but the tax year 2023/2024 I worked only as an employee. And I am also a student. What should I do?

[@gabrielalejandroferrucci5457]

Thaks for your video!! quick question, in the question "did you recieve any dividinds, for example, from UK companies, (or dividends from foreign companies), I recieved a very small amount from US companies, like, 100 pound or less, should I declare yes?

[@matthewthompson3391]

Really good video, has helped me so much. Really appreciate it! Thanks.

[@Louie.M10]

I'm so grateful for your videos. Thank you so much.

[@suzyh74]

Thanks, very helpful. I'm a self employed pensioner and receive state pension weekly (gross) and previous work pension monthly (tax deducted monthy). I can't see on the online form, where I can enter what's already been deducted - please can you advise. Thanks. Or would I enter it into a "more information" box?

[@chris-rosemlam8776]

I have just registered in the government gateway account. But cannot navigate to other pages on my screen. It says my income tax has not been calculated. What do I do?

[@pelsoncarvalho7616]

Hi bro can you make a video on how to file a tax as forex trading (CFD) and full time job. Thank you

[@pelsoncarvalho7616]

I mean being employed and also as part time forex trader.

[@stevenlafford506]

does it matter that I live in ireland? Is it the same system or are there massive differences?

[@Ninja-wn8pr]

why do I have to pay tax in advance ( payments on account) please?

[@L3gionMusic]

Because HMRC are greedy and expect us all to have a crystal ball with which we can see the future to predict exactly how much we will earn next year. And the best bit, we get charged interest if we pay less in advance than what we end up owing by the end of the year! In all seriousness though, if you search 'Reduce your payments on account', you can supposedly get them to reduce it if you don't think you'll need to pay that much

[@tamirestammyxD]

Hello, first of all, thank you very much for this wonderful video, it helped me a lot. But I was in a doubt I get universal credit do I have to declare this value of the universal credit?

[@amirshahali7645]

Hi I had a business which closed by 15/07/2023 .I completed last year tax return form till 5/04/2023 ,is need to fill form again for just two and half months .in total my business was total disaster and complete loose.please let me know what i have to do ,thank you

[@Lfl7882]

Question if I was employed before I started my freelance do I need to tick yes under the very first question under Tailor your return?

[@chrispc71]

I get an error message on entry of under £50,000 turnover that reads "There is a problem The amount entered for 'Turnover - takings, fees, sales or money earned by your business' exceeds the maximum annualised amount allowed for this field. Please amend or complete the full self employment pages instead." Would welcome someone offering an explanation as to why this might appear please.

[@juniorlion6752]

This platform is excellent Thank you for clear guidance in a see of nonsense videos !! ❤

[@danieljames6136]

Thank you! (again)

[@KayJohnston-rp1jm]

Hi, do you have any advise on how to complete the foreign income section with country that has already deducted 20% tax ?

[@antonywalker1258]

Hi I wonder if I could ask a specific question? If a person has a KZbin channel on travel and holiday locations, can the costs of the travel and accommodation be a tax deduction? Even if the channel generates no income?

[@Island-Media]

This is a fantastic video, thank you.

[@JacobVincent-i9k]

Can you do one video with one job in McDonald's employment and one self employed please 😅

[@lynncookson9598]

Hi my husband is self employed as a milk man but last year before we could pay our tax in jan 2024 for the year before we got a letter to say they had to close our account and they would have to send a new number,still waiting we have wrote loads of time but just cant log on without a new utr number,please help this will be the 2nd year without paying.

[@123bekr123]

Do I still need to do a self assessment as a company director of a limited company and also submit company accounts? Not clear on if I need to do both or just one? Also my first year submitting... yikes didn't know it was such a headache

[@juuguimma1234]

What about personal allowance?

[@renjithjoseph5571]

Thank you ❤❤

[@FredaYates-kd2ve]

Hi my husband became self employed last Oct 23. We were issues with a UTI number to reflect this. Since then all monies gained has been taxed by the employee. Does he still need to complete a self assessment? I followed your you tube video which was amazing by the way whilst completing the HMRC self assessment form but calculations state he owes tax which I am thinking can’t be right has he has paid already? Thank you for your advice in advance.

[@iamceceanderson]

Thank you so much for creating this channel and this video. 😁✌🏾💚🙏🏾

[@craigmurray5355]

Wondering if someone can help. I do a DJ gig at a local bar and invoice them through an agency called C247. I dont know if this is classed as having my own business as it doesnt have a business name im not sure if id use the Bars name at that point and have no idea what it all comes under in terms of the self assessment. Any help would be greatly appreciated

[@NoToComfort]

Thank you so much! (contributing to the algorithm :) )

[@user..Aa..Bb..]

Great video. Do I declare dividends of 50p. 😂 or 4pound in the year Also i started December but got first wage in January 4. . What shall i put on date of account books. Am still do work

[@HavingFunWithAvyan]

When I lost my previous Job, my employer paid one month of my salary in advance and one month of my salary untaxed. Do I have to include the untaxed salary in the self-assessment application?

[@emmirmoran5582]

thank you so much

[@ashlepcha9487]

hi on the finance costs for UK property - can i include my personal bank loans?

[@messamali5637]

nope ! you can include only property related mortages/loan interest only.

[@ajax201000]

Why is there the burden to pay NIC2 for those whos taxable profits are below £6725 but those who earn £6725 to 12570 dont have to pay, despite the fact they earnt more?

[@elizabethwoods4832]

What if you was employed with an employer until 13/01/24 and started self employment from 15/01/2024.

[@SK-gd5vz]

Hi Thank you very much for your very informative vedio. I have got a question regarding extra money. A uk tax payer has recently in June 24 started selling some old as well as new stuff on ebay. My question is , this person who is already paying tax through his job does not need to do anything now or this year till March 2025 if his ebay earning is less than 1000 pounds. Is my understanding correct. Please clarify

[@fr000bify]

If the side hustle (ebay) earns less than £1000 a tax year then HMRC do not need to know about it.

[@snoop21]

Could you please help me out with my return, I have a ltd company with a UTR no but 23/24 i used my personel UTR as i was being paid through CIS and im struggling filling in my return.

[@komenda219]

Where add grants from gov?

[@baltictv9074]

hey are you do for emplyee and self employ tax retun for 2023/2024 what i mean i work for company and geting extra from rental property

[@chrissarfoministries]

Thank you very much, this tutorial was very useful

[@AntonioVera-ho1vx]

What is the maximum amount of savings bank interest I can earn before paying tax. No other source of income.

[@messamali5637]

hey ! its around £17570 if you dont have any other kind of income