Top tips to filling in a tax return correctly

Filling out tax forms is part of life when you're self-employed and completing your tax return can be a painful process.

Here we highlight the most common mistakes self-employed people make when filling in their tax return, so that when you send the taxman your tax return, you get it right first time

When you're completing your tax return, make sure that you don't make these common mistakes:

  1. You put a 'yes' tick in one of the questions 1 to 9 on page 2 of the tax return, but you haven't sent the supplementary page with the tax return.

  2. You haven't completed the self-employed pages, particularly on page SE3 from box 3.74 onwards.

  3. You detailed information on separate schedules, instead of including the information on the tax return.

  4. You entered manuscript notes on the tax return, i.e. 'per accounts' and/or 'information to follow', instead of entering actual figures on the tax form.

  5. You failed to complete a separate supplementary page for each individual employment.

  6. You entered the net figure of employee personal pension premiums instead of the gross figure at box 14.11 of the core return (i.e. you claimed insufficient relief where higher rates of tax are payable).

  7. You entered the figure of capital expenditure in Box 3.14 of the self -employment pages instead of the figure of capital allowances (i.e. you claimed excessive relief).

  8. You failed to complete question 19 of the core tax return where a repayment is due. HM Revenue & Customs will then assume that you wish to leave the overpaid amount on your record, to be set against future liabilities, but you do have the right to choose.

  9. You entered your pay in box 1.8, but you didn't enter any tax deducted in box 1.11 on the employment pages.

  10. Most importantly, you failed to sign the tax return, so it was rejected immediately.

Other information

Published on: June 5, 2008

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