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Self Assessment, step by step

What Self Assessment asks of a sole trader: the tax year, the dates, the totals for the return, payments on account and saving for the bill.

Premium7 rooms58 questions58 min

This path is practice in how the records and the sums work. It is not tax advice. Any rate or allowance in a question is an example for that question, so check GOV.UK for the current figures.

See the first roomWhat Self Assessment is and who it is for

Rooms in this module

  1. What Self Assessment is and who it is for8 min, easyPremium
  2. The tax year and the key dates8 min, easyPremium
  3. How to total your income and expenses for the year9 min, easyPremium
  4. Payments on account10 min, mediumPremium
  5. Setting money aside for tax8 min, easyPremium
  6. Drawings are not wages8 min, easyPremium
  7. Working with an accountant7 min, easyPremium

How this works

Each room answers one problem. A task is a few lines of reading, then questions you answer in the books: post to an account, type a figure, sort, match or write a journal. Every answer is marked at once, with the rule behind it. There are no videos.

Words in this module

Drawings
Drawings are money or goods the owner takes out of the business for their own use. They reduce capital.

Questions

How many rooms and questions are in Self Assessment, step by step?

7 rooms and 58 questions. Every question is marked at once.

How long does it take?

About 58 minutes in all. A room takes 7 to 10 minutes, so you can do one at a time.

Is it free?

No. These rooms need Premium. Each room shows the start of its first task before you pay.

What should I do first?

Business expenses. It is the module before this one in Self-employed: your books and Self Assessment.