HMRC deadlines can be daunting—but you can stay ahead and stress-free with proper planning.

📝 Step 1: Register by 5 October

Register for self‑assessment by this date following the end of the tax year (April 5) to avoid fines.

💷 Step 2: Save as you earn

Allocate around 25–30% of every invoice into a tax pot—preparation eliminates year-end panic.

🏠 Step 3: Claim home‑working expenses

If you work from home, you can claim a flat £312/year allowance, plus a proportion for phone, internet, and utilities.

🗂️ Step 4: Track all allowable expenses

Deduct costs like travel, training, subscriptions, marketing, and equipment. Every pound saved reduces taxable profit.

📬 Step 5: Invoice and chase payments

Set 30-day terms and send reminders. Late payments hurt cash flow and take extra admin.

🧑‍🏫 Step 6: Consider an accountant

Hiring an expert such as DXE Accountants can boost your financial confidence, support mortgage applications, and free you to focus on your business .

⏰ Step 7: Meet the 31 January deadline

Submit your online self‑assessment by 31 January to avoid penalties—£100 initial fine, then increasing daily charges.

🚨 Mind side‑hustles

If your side income exceeds £1k/year, register for self‑assessment now—especially with the threshold rising to £3k soon.