HMRC Self Assessment (SA100) Tax Return Calculator 2023/2024

Self assessment
Were you self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on) ?
Were you a partner in a business partnership ?
Did you receive any income from savings, investments and £10,000 dividends ?
Did you have a total taxable income of more than £100,000 ?
Did you receive any foreign income ?
Did you receive any tips and commission ?
Did you have to pay the High Income Child Benefit Charge ? (Did you earn an income over £50,000)
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How do I calculate my self Assessment tax return?

HM Revenue and Customs (HMRC) calculates your Income Tax by first adding up all your taxable sources of income, including employment earnings, profits from self-employment, rental income, interest on savings, and dividends from shares. From this total, HMRC allows deductions for any allowable expenses directly related to earning certain incomes, applicable capital allowances, and other reliefs like pension contributions. Additionally, your personal allowance, a tax-free threshold, is deducted. The remaining income is then taxed at the appropriate rates, which in the UK are divided into different bands, each with its own rate, so that your income is taxed progressively, with portions falling into higher bands taxed at correspondingly higher rates.

How do I find my tax calculation on HMRC?

Log into your HM Revenue and Customs (HMRC) online account. Once you’re in, navigate to the ‘Self Assessment’ section. Here, you’ll find an option labeled ‘More details about your Self Assessment returns and payments.’ Click on this to access comprehensive information about your past returns and payments related to Self Assessment. This section is designed to provide you with detailed records and status updates on your filings and any associated financial transactions.

Can I download a SA100 form?

You can obtain the SA100 form by downloading it from the HM Revenue and Customs (HMRC) website. However, it’s crucial to apply for your Unique Taxpayer Reference (UTR) at least six weeks before the tax deadline. Without a UTR, you’re unable to submit your tax return, which can lead to penalties. This proactive approach ensures you have all necessary documentation in time for a smooth and penalty-free submission.

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