Being Self Employed means that you pay income tax through Self Assessment. After the tax year ends on the 5th April you will need to complete a Self Assessment tax return, this can be done on line or by paper form.
A paper tax return must be received at HR&Customs by 31st October otherwise you may receive a penalty. If you choose to do your tax return online then you have until 31st January, giving you an extra three months.
Whether you complete a paper tax return or choose the on line method, you need to pay any tax you owe by the 31 January. If this is late you will be charged interest from the day your tax was due and may incur additional surcharges.
Why not let Capital Bookkeeping manage your end of year accounts and complete your Tax Return. We will also calculate your tax obligation and file your return online with H M Revenue & Customs.