Self Assessment tax returns
Prepared and filed with HMRC for a fixed £150 + VAT
A Self Assessment return reports your personal income to HMRC so you pay the right amount of tax. It is required for sole traders, partners, many company directors and people with untaxed income such as rent.
Trust Ledger Accounting prepares and files your return for a fixed £150 + VAT, within 5 working days of receiving complete information. The online deadline is 31 January.
| Fixed fee | £150 + VAT per return. One director's return is included in every monthly package. |
|---|---|
| Turnaround | 5 working days from complete information, or 2 working days with express (+£50 + VAT) |
| Online filing and payment deadline | 31 January after the end of the tax year |
| Late filing penalty | £100 straight away, rising the longer the return is outstanding |
Who needs to file a Self Assessment?
You must send a return if any of these applied to you in the last tax year:
- You were self-employed as a sole trader and earned more than £1,000
- You were a partner in a business partnership
- You had capital gains on which tax is due
- You or your partner received Child Benefit, your income was over £60,000 and the charge is not collected through your tax code
You may also need to send one if you have untaxed income, such as:
- Rental income from property or land
- Dividends, savings interest or investment income
- Foreign income
- Taxable UK income while you are a non-UK resident
Source: GOV.UK, who must send a tax return.
Key dates
| Date | What is due |
|---|---|
| 5 October | Register with HMRC if you need to file for the first time |
| 31 October | Paper returns |
| 31 January | Online returns, and payment of the tax you owe |
| 31 July | Second payment on account, if you make them |
Late filing penalties
- An initial £100 penalty, even if you owe no tax
- After 3 months, £10 a day up to a maximum of £900
- After 6 months, a further 5% of the tax due or £300, whichever is greater
- After 12 months, another 5% or £300, whichever is greater
Source: GOV.UK, Self Assessment penalties.
Making Tax Digital for Income Tax
Sole traders and landlords with qualifying income over £50,000 have had to use Making Tax Digital for Income Tax since 6 April 2026. The limit falls to £30,000 from 6 April 2027 and £20,000 from 6 April 2028. We keep your records in FreeAgent, which is MTD-compatible, so you are ready when it applies to you.
What we need from you
- Your Unique Taxpayer Reference (UTR) and National Insurance number
- P60, P45 or P11D if you were employed
- Self-employment or rental income and expenses for the tax year
- Dividend vouchers, bank interest and pension contribution statements
See all prices on our pricing page.
Figures checked against GOV.UK and last updated on .
Enquire about Self Assessment
Common questions
How much does a Self Assessment tax return cost?
A fixed £150 + VAT. One director's Self Assessment is included in each of our monthly packages for limited companies.
When is the Self Assessment deadline?
Online returns and the tax you owe are due by 31 January after the end of the tax year. Paper returns are due by 31 October.
Do company directors need to file a Self Assessment?
Not automatically. A director needs to file if they have income that is not taxed through PAYE, such as dividends above the dividend allowance, or if HMRC has asked them for a return.
I have missed the deadline. What should I do?
File as soon as you can. The penalty starts at £100 and grows after 3 months, so acting quickly limits the cost. Our express service files within 2 working days for an extra £50 + VAT.
Do I need to file if I am a landlord?
Usually, yes. Rental income is untaxed income that normally has to be reported to HMRC through Self Assessment.