My self assessment is super basic but I still come to your videos every year to help me fill it in, really helps with the anxiety that I might make an honest mistake and get slapped with a fine or something lol
Hi there . Just done my last 2 years tax returns together 21-22 and 22-23 1 owe a £100 fine for my 21-22 and it's been pending for 10 days now .. Is this normal? Thanks
Usually takes me all day (one year two days) to fill in the dreaded self assessment. I'm not stupid, it just frazzles my brain. This year, using your walkthrough, went through it page by page in a couple of hours! Thank-you. Look forward to your help with 22/23 return. Cheers man.
The best video! which I watched till the end since I am on TH-cam, tend to mention that I bought a course on Udemy on how to do a self employed tax return and was a bit outdated and used this video to submit my tax return. I am now a subscriber I liked the video and I will see the rest of the videos that you have. Well done Adam, really appreciate your work
You are the best I’ve subscribed and will most certainly keep you at the top of my saved videos. This years tax return I did on a shared screen with you and completed it in less than 2 hrs. Thankyou your video is invaluable xx
Took any doubt about filling in self assessment away, a real relief. Also helped to clarify what I need to complete as I set up as self employed but then went into full time employment
The biggest part that fried my brain before watching this video was the 50% "plus" payment made on January. I kept thinking why am I paying money on what I haven't earned yet. But after watching this I now understand. Thanks!
Just viewed this having been working part time for 20 years since I retired!! As I do my SE Tax Return myself, it did clarify a number of points I had not been sure about. Luckily, nothing that I got wrong. Very reassuring. However, understandably, you were focusing on much younger people so a few things weren’t covered that applied to me, like receiving state and work pension, not having to pay NI contributions. Thank you Adam for a very thorough explanation for 99% of viewers
Lifesaver every year, so much jargon I can’t get my head around. Always nice to forget about having to pay half of next years so that was a nice surprise.
Brilliant video. I knew how to file my self assessment but I have a company and had employment under IR35. Been battling through this and couldn't get through to HMRC for days as I owed tax based on the calculation. Your step by step approach with the added explanation of being able to offset losses of the company against employment income turned my taxes around. Thanks for your detailed explanation of each step with scenarios. It worked wonders. Most useful and helpful. So grateful. Thanks so much !
unbelievable - this has made so much sense and doing a tax return has always filled me with such dread I always paid someone else to do it, but to have Adam take us through step by step made the whole process a piece of cake; I now need to buy you a coffee and that piece of cake...
I am totally delighted with your video, as I am helping my self employed son, as sports coach complete his first self tax assessment. The video was extremely helpful.
I’m so please I found your Chanel - it is so perfect and informative- I’m advising you to my friends ( we are self employed carers of old people ) thank you for your time and Exelent help so easy to follow ( English is not my home language- and I cud understand all ) Thank you once more - Eva
Thank you for this truly helpful video - I've been totally overwhelmed at the thought of filling it in for the first time but this has been a huge help.
My first time needing to do a tax return and this was super helpful! Thankyou so much, would of not known how to proceed through the questions without this invaluable guidance! 👍
Cracking walk through, thanks! I’m going to try my own tax return this year… would usually use an account, but I want to learn to do it myself now. Was worried about the expenses: tools and fuel receipts etc… Thanks for the video!
Here is how you can do it www.gov.uk/tax-relief-for-employees/vehicles-you-use-for-work If you have more questions or need our help, please email us your details at info@tax2u.co.uk
Hi...thanks a lot for your videos about tax return in uk....very very useful especially because you explain things step by step and clearly without rush...I have only one question, could you consider to make a video on how to provide bank account details into a personal account in order to get payed and at the same time explain how exactly works : I mean which institution is supposed to manage the tax return in uk and how they do it. Thanks again
Thanks for your help. I had one question, on the 'fill in your return' section minute (38:25). You gave a figure of 5000 what if you didn't get any help? Is there any way around this question, I type in 0.00 and it wants an actual figure. Thanks again!
Excellent video mate. I've watched your other video as well about declaring the income made from TH-cam and I'd like to kindly request or suggest a topic for a future video. How to complete the foreign income section of the tax return? I'm a construction dude by day and blogger by night :)) and I receive commisions in more than one currency. Sometimes those commissions land straight into my uk bank account and sometimes they land in the paypal account. So I receive pounds and dollars... It's a bit complicated to get my head around it so a video on this topic would be very helpful indeed. Thanks a bunch. Again, great video🙏
Seconding this! I'm putting off completing my tax return because this is my first year receiving income from TH-cam and I feel I'm in over my head. A video on this topic would be golden. Thanks in advance! 👍👍👍
Great video, thanks for the very useful information. 1 question please: if I enter a value into the AIA (the cost of a lens for my photography business) will I add this amount also into the allowable expenses?
thank you so much sir for all the useful information , could you advise me about annual leaves pay ,do i have to deduct them before submitting tax return thanks
Thanks for your videos, they are really helpful. I have a few questions on the '2. Tell us about you' section and would appreciate your comments please. It asks... "Did you receive notification from Student Loans Company that repayment of an Income Contingent Student Loan began before 6 April 2022?" ... a) If I made payments to my student loan in the 2021-22 tax year, do I answer yes to this? b) I fully paid off my student loan in the 2021-22 year, do I include the amounts that I paid? Many thanks
great video. I'm employed full time with a PAYE business. I sell on eBay on the side. Do I need to say i'm 'self employed' on the tax return, or put extra earnings under miscellaneous
Excellent Adam - thanks! If I'm no longer self-employed for 22/23, how do I declare this? Is it in the 'Payments on account' section? Assuming you just state zero then state "I ceased self-employment in the 2021-22 tax year."
Fantastic video as usual Adam! A bit off topic but do you have a video that shows how to fill out a CF83 form for self-employed if going to end self-employment period and going to work abroad?
Thanks for the excellent video! It helped me a lot. But I have one question and I cannot find the answer anywhere. I have made x2 payments on account by end of January and end of July towards this tax year. The amount already paid shouldn't be deducted from this year's bill. Looking forward to hearing from you. Many thanks, Carlos
Great video, very helpful! The trouble I am having is getting an 'ERROR' message when entering my Turnover, saying my business exceeds the maximum annualised amount. Any help would be great!
Well that is strange, not sure why you would get this error. I understand tax return can be complicated, depending on your personal situation we can provide a competitive price and help you with the draft and Submission return, just sends us an email to info@tax2u.co.uk
Great Video! Really helpful for filling in my first tax return. I do have a question though. I was trading as a sole trader from Jan - July so i was wondering what option i need to choose in the fill in your return section?
Very interesting video and a comprehensive explanation. I just finished my first trading year as an artist and want now to fill in my self-assessment tax return. However, I do not find on the HMRC website nor in your video where I can declare the money spent during the last four years to start my small business. I understand that this amount of expenses can be added as it was done on the first day of trading. But how to put that on the self-assessment declaration? Can you help, please?
This very helpful! Just a quick question: if I'm filling it out now, for the "date your books or accounts are made up to" would I still put 05/04/2022? And would I then only calculate my turnover up to that date not anything past it? It's my first time filling out a tax return, so I don't want to make a mistake!
Hello, thanks for your videos! How to fill the return when we combine employment and self-employment? Is there a separate form to inform the incomes? Thanks!
Hi Adam , great detailed video , thanks but i still do not know where we enter the amount of 50% tax that we paid in advance the year before (like you said at the time stamp 1:02:50) , because every year that i filled the self-assessment i get the figure that i have to pay (about 30% tax from what i make) plus 50% more in tax for the future tax year , so why its not deducted the advance tax that we paid in the year before (it looks that every year we pay with 50% more tax in advance that is not deducted the next year !!!) I really hope you can answer to my question and help. Radu
Awesome video Adam. Really helpful. Two points if I may, I am self employed and use an accountant, this year I would like to do all myself. Do I need to do anything official to remove the accountant from dealing with my accounts besides informing the account? Also, with regards to student loan, when on the tax assessment do I add this? Thanks
Your video is very useful indeed. But I have a problem, perhaps you can enlighten me... I'm a teacher, and I pay tax on my salary through PAYE. I also make about £4,000 a year on my YT channel. I filled in my return, included the £1000 trading income allowance, and my calculation showed I owed £2139, over half of what I've earned from my channel. As an experiment, I changed the income amount to £1100, but my calculation shows I would then owe £979. How could this be?
hey ! great channel however i have a question, where do you input any business loans - say family member has loaned the money and you are paying them back monthly ? thanks.
Thank you. When you were skipping through the tax calculation summary towards the end, it there is no charge for NICs class 2. Why is this, given that the taxable profit was well above the threshold? Also, the amount that the NIC class 4 calculation was based on, was more than the taxable profit (by £ 3,002). Why was this?
Hi there Thank you for your videos. Can you please tell me where to put interest paid gross for rental self assessment please.it would be very grateful. Thanks in advance
Hi, helpful video by the way, but I have a question. At 47:24 where it mentions 'Loss brought forward from earlier years set-off against 2021 - 2022 profits' it always says there is an error when I enter a figure in there. I have tried adding a minus sign, taking out pound sign and other things, but it won't let me enter it, I don't know why? Is there anything I have missed at all as to why it's not letting me add this figure? Thanks!
My self assessment is super basic but I still come to your videos every year to help me fill it in, really helps with the anxiety that I might make an honest mistake and get slapped with a fine or something lol
Have you tried doing the cash hack program yet I did cash hack and I got paid $20,000 in just a few hours
That's so good to hear! Thanks for the support
Hi there . Just done my last 2 years tax returns together 21-22 and 22-23
1 owe a £100 fine for my 21-22 and it's been pending for 10 days now ..
Is this normal?
Thanks
@@cfcs66 Sounds like that's a late filing penalty
Usually takes me all day (one year two days) to fill in the dreaded self assessment. I'm not stupid, it just frazzles my brain. This year, using your walkthrough, went through it page by page in a couple of hours! Thank-you. Look forward to your help with 22/23 return. Cheers man.
Thank you so much!!! I had pressed so many things I shouldn't so I am glad I watched your video and didn't fork out for a 'tax' advisor online!!
The best video! which I watched till the end since I am on TH-cam, tend to mention that I bought a course on Udemy on how to do a self employed tax return and was a bit outdated and used this video to submit my tax return. I am now a subscriber I liked the video and I will see the rest of the videos that you have. Well done Adam, really appreciate your work
I usually struggle but this video make it so easy to go through each section
You are the best I’ve subscribed and will most certainly keep you at the top of my saved videos.
This years tax return I did on a shared screen with you and completed it in less than 2 hrs. Thankyou your video is invaluable xx
Watched this on Wednesday, went back a couple times today, super easy to follow. Thank you so much.
Took any doubt about filling in self assessment away, a real relief. Also helped to clarify what I need to complete as I set up as self employed but then went into full time employment
thank you for your video last year was easy for me , but this year without your video it will be tough.
The biggest part that fried my brain before watching this video was the 50% "plus" payment made on January. I kept thinking why am I paying money on what I haven't earned yet. But after watching this I now understand. Thanks!
Just viewed this having been working part time for 20 years since I retired!! As I do my SE Tax Return myself, it did clarify a number of points I had not been sure about. Luckily, nothing that I got wrong. Very reassuring. However, understandably, you were focusing on much younger people so a few things weren’t covered that applied to me, like receiving state and work pension, not having to pay NI contributions. Thank you Adam for a very thorough explanation for 99% of viewers
This was super helpful! I was struggling trying to do it on my own and found it overwhelming but this made such a difference, thank you!!
Lifesaver every year, so much jargon I can’t get my head around. Always nice to forget about having to pay half of next years so that was a nice surprise.
Brilliant video. I knew how to file my self assessment but I have a company and had employment under IR35. Been battling through this and couldn't get through to HMRC for days as I owed tax based on the calculation. Your step by step approach with the added explanation of being able to offset losses of the company against employment income turned my taxes around. Thanks for your detailed explanation of each step with scenarios. It worked wonders. Most useful and helpful. So grateful. Thanks so much !
Thank you for explaining the Submit, and then log in your details bit! I was stupidly thinking I had lost the whole thing one year.
unbelievable - this has made so much sense and doing a tax return has always filled me with such dread I always paid someone else to do it, but to have Adam take us through step by step made the whole process a piece of cake; I now need to buy you a coffee and that piece of cake...
Hi Andy. Appreciate the comment and also received your email. Glad the video was useful. Will be in touch later today. Thanks
I am totally delighted with your video, as I am helping my self employed son, as sports coach complete his first self tax assessment. The video was extremely helpful.
Fantastic!
Have you tried doing the cash hack program yet I did cash hack and I got paid $20,000 in just a few hours
This is very helpful since you can't get through quick enough to HMRC to guide you through filling the form. Thanks Adam, I know what I am doing now.
thank you , is the second year I use your video as a help to filling up my tax return as a Self Employed.
Thank you, excellent video, great help, all my questions answered, managed to complete my first tax return on time :) !
I’m so please I found your Chanel - it is so perfect and informative- I’m advising you to my friends ( we are self employed carers of old people ) thank you for your time and Exelent help so easy to follow ( English is not my home language- and I cud understand all ) Thank you once more - Eva
Thank you for creating this video and the amount of tine and detail you have given to this.
Really helpful, you made the time fly by. Perfect
Thank you for this truly helpful video - I've been totally overwhelmed at the thought of filling it in for the first time but this has been a huge help.
Glad it was helpful!
Very good video. Well presented and easy to follow.
Glad you enjoyed it!
Really helpful - saved me hours on the phone to the tax office! Thank you.
Glad it helped!
thanks for this, its the second year ive used your tutorial.
Many thanks, this was a great help. I struggled with what expenses to claim as detectables. There are many things one could 'potentially' claim for.
Brilliant video, very helpful. Please continue with your channel and keep making these Self Assessment vids every year. Thank you
Thank you very much, you took all the stress out of this.
Thank you for your valued time. Your tutorial was excellent and very detailed in your explanation. Thank you
Thank you so much Adam - you have helped so much for the four years I've had to fill in the self-assessment tax form - greatly appreciated.
Happy to help!
Thanks man !! I could not of done this without your video !
Great work mate, this is a really important and helpful video. Much obliged!
My first time needing to do a tax return and this was super helpful! Thankyou so much, would of not known how to proceed through the questions without this invaluable guidance! 👍
Cracking walk through, thanks! I’m going to try my own tax return this year… would usually use an account, but I want to learn to do it myself now. Was worried about the expenses: tools and fuel receipts etc…
Thanks for the video!
Great video your a life saver as my accountant was causing me so much stress , sacked him thanks to your video
Glad I could help
mate this video is a god send. i wish i found it earlier when i was losing my mind
Don’t know why we need account!!! Adam is here ❤ thanks (account fees 250£ 🤦♂️)
Very helpful, was confident when submitting the return! Best of luck! Explained very well and was very informative ! 😊
Thank you for your help again this year 🙌
Thank a lot. Very helpful. Is there a video explaining about what expenses are allowed for self employed individuals working from home.
Thank you , that was really helpful ! you re explained it well !
Thanks again, your advice made it a breeze top man👍
ohhh, thank you so much for this video, for your explanation and help
Many thanks for this video i can now file my own tax return.
Thank you so much for the helpful step by step tutorial and explanations. Its been really helpful and made the whole process easier to deal with.
Fantasdtic Step by Step Video Would Highly Reccomend for anyone who is a novis at filling in Tax Returns (Like Myself) Really good Video
Excellent video! Question, as an employee, how do I claim my mileage allowance relief in my self assessment return?
Here is how you can do it www.gov.uk/tax-relief-for-employees/vehicles-you-use-for-work If you have more questions or need our help, please email us your details at info@tax2u.co.uk
Hi...thanks a lot for your videos about tax return in uk....very very useful especially because you explain things step by step and clearly without rush...I have only one question, could you consider to make a video on how to provide bank account details into a personal account in order to get payed and at the same time explain how exactly works : I mean which institution is supposed to manage the tax return in uk and how they do it. Thanks again
Great video. Just to confirm if I am a paye employee and a sole trader I don't need to pay extra voluntary contributions.
you are awsome my friend keep it up.thanks you help me a lot
Thank you very much for that! Very detailed and useful.
Thanks for your help. I had one question, on the 'fill in your return' section minute (38:25). You gave a figure of 5000 what if you didn't get any help? Is there any way around this question, I type in 0.00 and it wants an actual figure. Thanks again!
Hello Thank you so much for this very useful video!
Honestly so helpful...big stress relief filling my tax return step by step with you as I did last year also. Thank you!!!
Thanks
Jean Weston
Very helpful indeed, very clear. Thank you!
Excellent video mate. I've watched your other video as well about declaring the income made from TH-cam and I'd like to kindly request or suggest a topic for a future video.
How to complete the foreign income section of the tax return?
I'm a construction dude by day and blogger by night :)) and I receive commisions in more than one currency. Sometimes those commissions land straight into my uk bank account and sometimes they land in the paypal account.
So I receive pounds and dollars...
It's a bit complicated to get my head around it so a video on this topic would be very helpful indeed.
Thanks a bunch. Again, great video🙏
I've added this to my list. Thank you for the suggestion
Seconding this! I'm putting off completing my tax return because this is my first year receiving income from TH-cam and I feel I'm in over my head.
A video on this topic would be golden. Thanks in advance! 👍👍👍
@@tax2ulimited good. Please can you. Make tax digital(mtd) for 2024.
Great video, thanks for the very useful information. 1 question please: if I enter a value into the AIA (the cost of a lens for my photography business) will I add this amount also into the allowable expenses?
You just need to enter it 1 time
Thank you so much. Please also show us how to do SA 800 and CT600 returns.
Thank you for this video extremely helpful. Thanks
EXCELLENT!! NEEDED THIS TODAY
This is so helpful, thanks. What a joke out government is, you earn over 1 grand & have to pay tax. I'd like to know more about "tax avoidance".
thank you so much sir for all the useful information , could you advise me about annual leaves pay ,do i have to deduct them before submitting tax return thanks
Great video. It help lots. Thanks 👏✊
Thx so much for your explanation, super helpful
Really helped me understand thank you
Wonderful information thank you!
This is amazing, thank you, thank you, thank you 🙏🏼
Thanks for your videos, they are really helpful. I have a few questions on the '2. Tell us about you' section and would appreciate your comments please. It asks... "Did you receive notification from Student Loans Company that repayment of an Income Contingent Student Loan began before 6 April 2022?" ... a) If I made payments to my student loan in the 2021-22 tax year, do I answer yes to this? b) I fully paid off my student loan in the 2021-22 year, do I include the amounts that I paid? Many thanks
great video. I'm employed full time with a PAYE business. I sell on eBay on the side. Do I need to say i'm 'self employed' on the tax return, or put extra earnings under miscellaneous
Thanks so much, this was really helpful
Excellent Adam - thanks! If I'm no longer self-employed for 22/23, how do I declare this? Is it in the 'Payments on account' section? Assuming you just state zero then state "I ceased self-employment in the 2021-22 tax year."
Are you going to make a cis video
For the construction side ?
Have you tried doing the cash hack program yet I did cash hack and I got paid $20,000 in just a few hours
Excellent video very helpful
Fantastic video as usual Adam! A bit off topic but do you have a video that shows how to fill out a CF83 form for self-employed if going to end self-employment period and going to work abroad?
Thanks for the excellent video! It helped me a lot. But I have one question and I cannot find the answer anywhere. I have made x2 payments on account by end of January and end of July towards this tax year. The amount already paid shouldn't be deducted from this year's bill. Looking forward to hearing from you. Many thanks, Carlos
Can you do a video on how to apply for a 9 digit tax code for self employed
Hi Adam! I need explanation about How to fill the gaps on my National insurance records.
Great video, thank you!😃
Thank you soooooo much for your great work ❤️😍
Great video, very helpful! The trouble I am having is getting an 'ERROR' message when entering my Turnover, saying my business exceeds the maximum annualised amount. Any help would be great!
Well that is strange, not sure why you would get this error. I understand tax return can be complicated, depending on your personal situation we can provide a competitive price and help you with the draft and Submission return, just sends us an email to info@tax2u.co.uk
Thanks so much for this, incredibly helpful.
Glad it was helpful!
Great Video! Really helpful for filling in my first tax return.
I do have a question though. I was trading as a sole trader from Jan - July so i was wondering what option i need to choose in the fill in your return section?
Very interesting video and a comprehensive explanation. I just finished my first trading year as an artist and want now to fill in my self-assessment tax return. However, I do not find on the HMRC website nor in your video where I can declare the money spent during the last four years to start my small business. I understand that this amount of expenses can be added as it was done on the first day of trading. But how to put that on the self-assessment declaration? Can you help, please?
This very helpful! Just a quick question: if I'm filling it out now, for the "date your books or accounts are made up to" would I still put 05/04/2022? And would I then only calculate my turnover up to that date not anything past it? It's my first time filling out a tax return, so I don't want to make a mistake!
Hello, thanks for your videos! How to fill the return when we combine employment and self-employment? Is there a separate form to inform the incomes? Thanks!
Thank you for this amazing video
Glad you liked it!
this is super helpful just one question if I get child allowance for two small children does it count as my income?
This is amazing!
Hi Adam , great detailed video , thanks but i still do not know where we enter the amount of 50% tax that we paid in advance the year before (like you said at the time stamp 1:02:50) , because every year that i filled the self-assessment i get the figure that i have to pay (about 30% tax from what i make) plus 50% more in tax for the future tax year , so why its not deducted the advance tax that we paid in the year before (it looks that every year we pay with 50% more tax in advance that is not deducted the next year !!!) I really hope you can answer to my question and help.
Radu
Awesome video Adam. Really helpful. Two points if I may, I am self employed and use an accountant, this year I would like to do all myself. Do I need to do anything official to remove the accountant from dealing with my accounts besides informing the account? Also, with regards to student loan, when on the tax assessment do I add this? Thanks
No, I done the same last year and didn't have any problems...
Your video is very useful indeed. But I have a problem, perhaps you can enlighten me... I'm a teacher, and I pay tax on my salary through PAYE. I also make about £4,000 a year on my YT channel. I filled in my return, included the £1000 trading income allowance, and my calculation showed I owed £2139, over half of what I've earned from my channel. As an experiment, I changed the income amount to £1100, but my calculation shows I would then owe £979. How could this be?
Thank you for this helpful video.
You are welcome!
@@tax2ulimited please do a mtd video
hey ! great channel however i have a question, where do you input any business loans - say family member has loaned the money and you are paying them back monthly ? thanks.
Thank you. When you were skipping through the tax calculation summary towards the end, it there is no charge for NICs class 2. Why is this, given that the taxable profit was well above the threshold? Also, the amount that the NIC class 4 calculation was based on, was more than the taxable profit (by £ 3,002). Why was this?
Hi there
Thank you for your videos.
Can you please tell me where to put interest paid gross for rental self assessment please.it would be very grateful.
Thanks in advance
Hi, helpful video by the way, but I have a question. At 47:24 where it mentions 'Loss brought forward from earlier years set-off against 2021 - 2022 profits' it always says there is an error when I enter a figure in there. I have tried adding a minus sign, taking out pound sign and other things, but it won't let me enter it, I don't know why? Is there anything I have missed at all as to why it's not letting me add this figure? Thanks!
For once in my life I finally understand how to submit my own tax return!!! Thanks for keeping it simple for us idiots !