If you’re self employed, run a business or have income from other sources, then you may be required to complete an SA100 form.
Form SA100 is the official name for a UK self assessment tax return form. Millions of UK tax payers complete a self assessment tax return every year and it’s used to provide information on individuals income to HMRC, so HMRC can work out how much tax is owed.
In this blog we explain more about the SA100 self assessment tax return, the information required and how to complete and file the tax return.
What is an SA100 form?Self assessment relates to the process you go through to submit information about your income to HMRC. The SA100 form is a multi-page form you are required to fill out to complete the self assessment tax process.
The SA100 form is used to report your income from all sources during a tax year, any capital gains you’ve made from the sale of items and to claim tax reliefs and any repayment due to you.
Depending on the complexity of your income, you may have to complete supplementary pages to provide HMRC with further information. These supplementary pages will go into much more detail around specific income sources or capital gains.
Who must complete an SA100?Individuals must send in a tax return if any of the following apply in a tax year:
You may also need to send a tax return if you have any untaxed income, such as:
Some people choose to fill out an SA100 form if they want to:
You can use the tax return for:
Just because you have to complete a tax return form, doesn’t mean you will have to pay tax.
How do I get my SA100 self assessment tax return form?Registering for self assessment with HM Revenue and Customs (HMRC) is a crucial step for individuals and businesses in the UK who need to report their income HMRC and pay the appropriate taxes. There are two primary methods to register for self assessment: online and by post.
You also have a choice on how you submit your self assessment form - these are online or by paper tax return. Online is the easiest and quickest way to file your tax return with HMRC.
To register online for self assessment, you will need to do the following:
To register by post you must:
Before you start, it’s recommended you pull together some necessary documentation such as:
If you’re self employed:
Other things you may require or if you’re an employee:
You’ll need the following information to be able to complete your main tax return:
If you are completing a paper tax return for tax year 23/24, HMRC must receive it by 31 October 2024 (or 3 months after the date on your notice to complete a tax return if that’s later).
If you are completing your tax return form online for tax year 23/24, you must send it online by 31 January 2025 (or 3 months after the date on your notice to complete a tax return if that’s later).
If you want HMRC to use your tax code to collect any tax you owe through your wages or pension, you must file online by 30 December 2024.
The deadline for paying your tax bill, or any Class 2 National Insurance contributions (NICs), is 31 January 2025.
If HMRC do not receive your tax return by the deadlines, you’ll have to pay a £100 penalty – even if you do not owe any tax. Further penalties are charged if your return is more than 3, 6 and 12 months late.
Complete your Self Assessment SA100 online with dns accountantsCompleting a tax return correctly, avoiding errors or penalties can be complex. Most individuals use an accountant such as dns accountants to help complete their tax return on their behalf. Here at dns accountants our experts complete and file thousands of tax returns every year, do we will ensure that your tax return information is correctly completed.
There are huge benefits to getting your tax return completed by dns, here’s just a few of them:
Save timeOur process is totally streamlined, fast and efficient and a lot easier than doing your own tax return.
Fixed priceOur tax return service is cheap and gives you excellent value for money, compared to doing your own.
Minimise taxOur tax experts will ensure you don’t pay a penny more than you have to in tax. You’ll get 15 minutes with our tax specialists and receive our expenses guide to know what are allowable expenses.
Our leading tax return service gives you problem-free self assessment filing. We promise you:
For help and advice on your tax return forms call us on 03300 886 686 or email on [email protected].
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