Table of Contents
2. How to set up the self assessment forms
3. Accessing the self assessment forms
4. Submitting your Self Assessment return
1. Introduction
If you are a sole trader using Clear Books, you can instantly view Self Assessment forms for your self employment income or property income. These forms are populated based on the accounting records that have been entered into Clear Books, which you can then use to prepare the self employment or property income forms that go into your Self Assessment tax return.
- Self-employment (full) (SA103F)
- Self-employment (short) (SA103S)
- UK property (SA105)
The values of the self assessment forms are based on the income, expense, and balance sheet information that has been entered via transactions in Clear Books. Clear Books assumes that you are only operating one business in your account, and the forms take into account all the transactions you have entered.
The earliest tax year available is 6 April 2021 to 5 April 2022, the deadline for submission to HMRC for this tax year is 31 January 2023 for most taxpayers.2. How to set up the self assessment forms
The self assessment forms are available when your organisation type is ‘Sole trader.’ You can review your organisation type on the Settings > Organisation > Details & Tax menu.
The Self Assessment form feature is enabled by default. However, you can review this by navigating to Settings > Configure system > Tax & Bank Import Tool and toggle the ‘Self Assessment tax return forms’ feature.
3. Accessing the self assessment forms
To access the Self Assessment forms, head to Tax > Income Tax > Self Assessment Forms.
Only users with all permissions [i.e. have the 'Admin (predefined') role] will be able to view this menu
On the Self assessment forms overview page, you can select which form you wish to generate.
Once you have generated the form, you can view the amounts in each box, click the ‘View Breakdown’ links to review the transactions that make up these amounts, and manually enter allowances and adjustments to calculate taxable profit or loss.
Click here to view detail on the account code mapping
4. Submitting your Self Assessment return
Clear Books helps you to prepare the sole trade or property income form, which you can then use to complete and submit your return to HMRC using HMRC’s online services.
Your full Self Assessment return may include other income sources such as employment, interest, dividends, and others.
The Self Assessment forms generated in Clear Books will make it faster and easier for you to prepare your full self assessment return.
5. Help from HMRC
If you need expert advice about tax treatment for your self assessment return, please contact your accountant or HMRC.
HMRC make available the following resources to help the self employed with their self assessment: