This course will encourage you to gain a better understanding the tax process better and allow you time within the session to get your tax returns done!
It will help you understand which sections of the return are relevant to you, the taxes you will need to pay, and understand the terminology used within the tax return.
This course has been created in a way that’s easy to understand, so you won’t be overwhelmed by jargon, so you will be confident in understanding and organising your tax return.
We’ll start by looking at all the sections included with the tax return where we’ll discuss the meaning of different sections and which ones might be relevant to you.
Looking at the design and layout of the return you’ll have time to share your experiences and talk through the tax return.
This year we will be adding a section on Making Tax digital, as HMRC are moving towards a digital record and reporting system. Emma will explain what this will mean for you & when the deadlines are.
During this course you will:
• Understand if you need to complete a tax return
• Consider what you need to prepare for the return
• Look at how much detail or evidence you will need to submit
• Look at examples of expenses that are allowed
• Understand how to log on and sign in
• Have an overview of the tax return
• Go through the checklist to tailor your return
• Making Tax Digital deadlines & what it means for you
This workshop is part 1 of a 2 part course. This part is learning/reminding us about what’s in the tax return and what you need to prepare to complete your tax return.
It leaves enough time for you to work on your tax return and submit before the deadline of 31st Jan.
Part 2, is a hybrid session on 17 January where you have the option to come and work on completing your tax return with other freelancers doing theirs, and have the chance to ask Emma for advice if you have specific questions or get stuck.
The self assessment tax return period covers your self employed work between the dates 6 April 24 to 5 April 25. If you started trading after these dates, you should not submit your tax return yet.
*Please note this if this is your first time in completing a tax return, please register to complete your tax return ASAP as the registration process involves both an online form and receiving some information in the post, and this can take a few weeks to get to you.