Table of Contents
- What is the tax year?
- What are the key tax dates for 2025/2026?
- Who has to prepare a tax return?
- When should I start preparing my taxes?
- What tax services are available to use?
- What’s the best way to prepare your own taxes?
- How much does it cost for someone else to prepare my taxes?
- Do I need to complete a UK tax return if I am a non-resident?
The thought of filing your tax return may fill you with dread, but there is lots of help available to make the process easier.
Of course, not everyone has to file a tax return. For the majority of people who work as salaried employees, taxes are taken care of through the pay-as-you-earn, or PAYE, system. With PAYE, taxes are deducted before your wages hit your bank account.
However, if you are self-employed, earn an extra income – such as renting out a home you own – or you need to apply for benefits, such as Maternity Allowance or Tax-Free Childcare, you may need to fill in a self-assessment tax return.
There are lots of tax services that can help you do this, well within the time frame to avoid paying a penalty for filing or paying your taxes late.
What is the tax year?
Unlike the calendar year, the tax year runs from 6 April to 5 April the following year. This is the period you need to inform HM Revenue & Customs (HMRC) about your income, and you will then need to pay tax and National Insurance contributions on anything you earn during this time.
For example, the 2024/25 tax year ran from 6 April 2024 until 5 April 2025. The 2025/26 tax year started on 6 April 2025 and runs until 5 April 2026.
If you need to file a self-assessment tax return, this means you must tell HMRC how much you have earned in the previous year. HMRC will then tell you how much Income Tax and National Insurance you need to pay.
What are the key tax dates for 2025/2026?
There are a few key dates within the tax season you need to be aware of. If you need to file a tax return for the last tax year (2024/25 – from 6 April 2024 to 5 April 2025) then the following deadlines apply:
- 5 October 2025: This is the deadline for registering for self-assessment online.
- 31 October 2025: If you file a paper tax return, HMRC must receive it by this date.
- 31 January 2026: If you file an online tax return, you’ll need to do it by this date, and you’ll also need to pay any tax and National Insurance contributions due.
- 31 July 2026: In some cases, you may need to make two payments during the year and this is the second date, after the January payment.
Who has to prepare a tax return?
If you are self-employed, you’ll need to register for self-assessment. You need to do this if you have not registered before, or if you didn’t send a tax return last year.
You need to register before you can submit a tax return. If you register using a paper form, HMRC will send you a code by post, which you’ll need to use to activate your online account. The registration process can take a few weeks, so make sure you leave yourself enough time.
Self-assessment is not just for self-employed people either. There are many other reasons why you may have to register, including the following circumstances:
- You have rental income from a property.
- You have income from savings, investments, and dividends.
- You are a high earner (with a salary over £60,000) and you need to pay the High Income Child Benefit Charge.
- You earn more than £2,500 making money from your property (for example, by renting it out as a holiday let). You should contact HMRC if you earn between £1,000 and £2,500 this way.
- You earn foreign income.
When should I start preparing my taxes?
In life, it’s always good to be prepared, and in this regard, dealing with your taxes is no different.
Sorting out your tax return soon after the start of the new tax year can help you stay on top of your finances. Getting it done sooner rather than later also means you can avoid the £100 minimum penalty for filing a late tax return.
When you file a tax return, you will provide details of the income you earned during the previous tax year. For example, if you file an online return before the January 2026 deadline, this will relate to your income in the 24/25 tax year (from 6 April 2024 to 5 April 2025).
The deadline for filing your paper tax return is 31 October, or 31 January of the following year if you file online.
How long does it take to file a tax return?
How much time you’ll need to set aside to prepare and file your tax return depends on your circumstances and how simple, or complicated your taxes are.
The best way to cut down the length of time it takes is to start early and keep your finances organised throughout the year. Filing invoices, receipts and any other financial documents in a safe place when you receive them is a good start.
Keeping on top of your books – for example, by using small business accounting software throughout the year – could save you a headache when it comes to tax time.
It’s also wise to keep an online record of all the money you earn, dates when you’re paid, and to keep documents, such as a P45 or P60, in a safe place as you may need these when filing your return. HMRC can also ask to see your records after you’ve submitted your return, so you must keep these for five years after the tax year in question.
How can I organise my tax documents and what do I need?
You will need the following documents for your return, but depending on your income and profession, you may need more:
- Your 10-digit Unique Taxpayer Reference (UTR) – you’ll be sent this when you register for self-assessment.
- Your National Insurance number – you can find this on any pay slips or documents from HMRC.
- Details of any business expenses you have incurred.
- The details of your income from the tax year, which you have earned without paying tax.
- Details of other untaxed income, including dividends from shares or interest on savings (except for interest, income or capital gains from individual savings accounts, or ISAs, which are tax free)
What tax services are available to use?
If you’re worried about filing your self-assessment tax return, there is a lot of help on the government website: from the basic tools for filing your return to video walkthroughs and specific pointers for different professions.
You can call the government tax line on 0300 200 3310 with general enquiries about filing. Other ways to contact HMRC can be found on Gov.uk.
What’s the best way to prepare your own taxes?
Starting early and being as organised as possible can help you prepare your own taxes. This means keeping a record throughout the year and not waiting until the last minute.
There are several tools and apps designed specifically for freelance workers which can help. In addition, you could consider using accounting software to ease some of the bookkeeping burden.
How much does it cost for someone else to prepare my taxes?
Filing a tax return by yourself is free. HMRC will not charge you for submitting a tax-return.
However, if you have a complex tax situation, want to save time or are worried about filing a tax return yourself, there is nothing to stop you paying for an accountant to help you.
A tax accountant can take care of the whole process and file your return for you, for a fee. The cost will vary depending on the accountant and the amount of work involved, but as a rough guide, this service should cost somewhere between £150 and £300. However, you should expect to pay more if your tax return is particularly complicated.
» MORE: Benefits of using an accountant or tax adviser for your tax return
Do I need to complete a UK tax return if I am a non-resident?
Even if you’re not a UK resident, you may still need to pay income tax in the UK. This includes if you have income from a UK pension, interest from a UK savings account, or if you’re paid through the UK. There is a full list on the government website.
If you are not resident in the UK but let property or are self-employed here, you may have to submit a self-assessment tax return. You may also need to include any pension you claim outside the UK and any other untaxed income.
Image source: Getty Images
Dive even deeper
Home Business Insurance Explained
by Kristina Fox
Construction Insurance
by Henry Williams