Best way to learn how to do my (very) small business tax return?

[MoniBitchell]

I've been doing a small amount of self-employed work for the last couple of years. For the year 16/17 I paid an accountant to do my tax return, but when I enquired about someone doing it this year they said I'd be better off doing it myself as profits were so low anyway.

My incomings and outgoings are fairly simple and again, my profits are way below taxable level.

So, do any of you know of any good resources for helping me get this right?

I know I can follow the guidance on the .gov website, but I just wondered if there's anything else out there that could help me.

Anything on YouTube?

www.moneyadviceservice.org.uk/en/articles/tax-and-national-insurance-when-youre-self-employed#fill-in-a-tax-return-every-year-and-pay-your-tax-on-time

This link has general advice plus a link to HMRC webinars and videos

If your profits are so low that they are under the personal allowance then it is really simple to do it online yourself. The only figures you will need to put in are total turnover and total expenses. As long as you have kept receipts etc it should be quick and easy to do. I do mine and my husbands and they take a total of around 2 hours of my time to sort.

It's very easy and hmrc also have videos to follow. It really is easy. Register online and try yourself.

Honestly it’s really simple. As long as your turnover is less than 80k ish (I forget the exact figure) all you need to declare is your A - turnover figure and your B - total expenses (A-B = profit), together with the details of any other income you have had over the past financial year. Make sure you have and P45s / P60s to hand from any PAYE work, and also details of any benefits or investments.

The hardest part is getting registered and logged into the gov self assessment site, I found! But once you’ve got that under your belt, the actual self assessment part is really simple. You will be able to do it in under 10 mins unless you have various complex incomes to declare from other sources.