What are the different forms on your tax return?
Emily Coltman, FCA is the Chief Accountant for FreeAgent, who make online accounting software for small businesses and freelancers.
Hi, I'm Emily Coltman, I'm chief accountant to FreeAgent where we make online accounting software for small businesses.
So, what are the different parts of a Self Assessment tax return?
Well, every tax return is made up a main return, and then sets of supplementary pages.
The main return contains information about common types of income like bank interest, dividends, income from a pension scheme, and also about common tax reliefs like donations to charity or contributions to a pension scheme, and then each set of supplementary pages will contain information about a different kind of income.
For example, if you've got a job then you'll do a set of employment pages. If you're a sole trader, you'll do a set of self employment pages. If you've got more than on job, then you'll do a set of employment pages for each job. Similarly, if you're a sole trader with two different trades, you'll do two sets of self employment pages.
If you'd like more information about how FreeAgent can help you fill in your tax return, click the link above the video.
Thanks very much for watching and we'll see you in the next clip.Find out more about Self Assessment in FreeAgent