Wondering if you can claim a tax refund or need to submit a tax return? Use our online tools to find out if you're owed money by HMRC.
Self Assessment Tax Returns Online
Online Self Assessment keeps you in control
Once you've registered for Self-Assessment online, you can:
- Check your account details at any time to see what tax you owe.
- Make instant amendments to your return online.
- Adjust your payments on account if your income changes from one year to the next.
- Easily save an electronic copy of your return, or print a copy for your records.
HMRC's Making Tax Digital scheme is aiming to make tax simpler for individuals and businesses in the UK. Part of that process is the new Personal Tax Account system.
Your Personal Tax Account gives you better access to and control over your personal information. You'll also be able to check your tax code and State Pension, and do things like track the tax forms you've submitted. If you have questions or need help with setting up a Personal tax Account, talk to RIFT. We'll explain everything and talk you through the whole process. Alternatively, just follow our easy how-to guide.Personal Tax Accounts
What counts as being self-employed?
There are some grey areas surrounding self-employment, but generally HMRC might consider you self-employed if you:
- Have more than one client or customer at the same time.
- Are personally responsible for the success or failure of your business.
- Can choose to have someone else do the work for you.
- Provide your own equipment or tools.
If you're still not 100% sure where you stand, then you need to get advice straight away. The taxman gets really touchy when fully employed workers are passed off as self-employed. Companies sometimes try this on to avoid paying PAYE on employees' wages. HMRC doesn't like it, so always check if you're unclear. You can find out more about business records you should keep if you are self-employed to ensure you have everything you need.
Check out our guide to Self Assessment Tax Returns for everything you need o know.Tax Return Quote
How do I pay when I'm self-employed?
Most importantly, you'll need to report your income to HMRC so that you can pay the right tax on it. To do this you'll fill in a self assessment tax return. If you miss the tax return deadline by even one day, you'll be fined £100. Keep delaying and it just gets worse from there.
If you stop being self-employed, make sure to let HMRC know straight away. If you don't they'll keep expecting your self assessment return, and they really don't like waiting.
How do I pay the tax owed on my self-employed income?
Once you've submitted your self assessment return and found out what tax you owe, you can pay by:
- Direct Debit.
- BillPay - although watch out for transaction fees if you use a credit card.
- Bank giro credit at your bank or Post Office.
- Telephone, with your debit or credit card.
I am also employed. Can my tax on self-employed income be collected via my tax code?
HMRC can sometimes collect your tax through your tax code if you're employed as well as self-employed. It depends on how much you owe and how much you earn through employment.
If you want to do it this way, you'll need to get your paper tax return filed by the 31st of October. If you're filing online instead, you'll have until the end of December.
Either way, you'll have to specifically tell HMRC that you want to do it. You can find out more on tax codes and what they mean in our tax codes explained section.
Paying student loans when self-employed
I have a student loan and am self-employed. How is my repayment collected?
Payments toward student loans are handled through your normal self assessment paperwork. Anything you owe will be included with your main tax bill. Watch out if you're paying late; the fines will be the same as if you'd missed the tax deadline.
If you're making payments on account (advance payments on your tax bill), your student loan payments won't be part of them. Remember that you can make voluntary payments directly to the Student Loan Company if you want to. Those won't be included on your tax return, though, and won't reduce your actual tax bill.
Tax Return Service
RIFT Tax Return Service
The RIFT tax return service is custom-built to take the stress, complexity and guesswork out of preparing and filing your tax returns. For a single fixed fee, we can handle every stage of the process, from getting you registered for the system to submitting your returns online.RIFT Tax Return Service
Claiming a tax refund
Could I claim a tax refund?
The majority of our self assessment tax return clients are also due a tax refund from HMRC, claiming back an average of £2,500 from the taxman each year. Find out for free today if you have a claim, click on the button below to get started.Start for free >
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