How to File a Tax Return Online for UK Sole Traders - WISE Bookkeeping

We spoke to WISE Bookkeeping to ask them to share what they know about filing tax returns as a UK Sole Trader. Luckily, they have the specialist knowledge to help us out for this edition of Ask the Experts.

Section 3: Tailor Your Return - Page 1 of 3

This section has 3 pages, and it is designed to establish your circumstances that were relevant to the Financial Year that you are completing the Tax Return for.

By completing this section, you 'Tailor your return', so that in Section 4: 'Fill out Your Return', you (almost) only need to deal with questions that are relevant to your specific circumstances.

It is like a conversation between You & HMRC, in which, they get a picture about your situation.

Page 1 of Section 3 has 6 main Questions. By 'Main Questions' I mean, the 6 initial questions you see when you arrive to this screen.

Once you say 'Yes' to some of them, further questions appear to ask more detail on this page, so you end up with more than 6 on this page. Any question you answer 'Yes' to on this page, will result in having to fill a more detailed page out regarding it in 'Section 4 - Fill in your return'. This may varies to each individual. This series of our tutorials are focused on a very basic example of a Sole Trader only person, who was not employed, not a director, etc.

Every question has a 'question mark' next to it, which, if clicked on, will open in a new window, to offer explanation. In this blog, we have captured these explanations, based on the 2015/16 return, so that you can prepare, before you log in to fill in your own return.

Please find the questions and guidance from this page of Section 3 as per below, in the Images and video:

Section 3 - Page 1 - Question 1: 

3.1.1 Were you an employee, director, office holder or agency worker?

See detailed guidance relating to this question below.

Section 3 - Page 1 - Question 2: 

3.1.2 Were you Self Employed?

See detailed guidance relating to this question below.

If you have answered 'Yes' to 'Were you self-employed', you will be given additional questions: how many self employments did you have, and what was the name of these businesses.

See detailed guidance relating to this question below.

Section 3 - Page 1 - Question 3: 

3.1.3 Were you in a Partnership ?

See detailed guidance relating to this question below

Section 3 - Page 1 - Question 4: 

3.1.4 Did you have any income from UK property?

See detailed guidance relating to this question below.

Section 3 - Page 1 - Question 5:

3.1.5 Did you have any foreign income or income gains?

See detailed guidance relating to this question below.

Section 3 - Page 1 - Question 6: 

3.1.6 Did you have any capital gains?

See detailed guidance relating to this question below.

Thank You for Reading / Watching.
We are always looking for questions, so if you have still not resolved your query by watching / reading this, please send us your question to 
[email protected] so we can reply to you 1:1 to help you resolve your query.

You are always welcome for a visit on our website too www.wise-bookkeeping.co.uk or connect to us via Facebook, Twitter or YouTube