Self assessment tax returns ― sole traders

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

This guidance note deals with requirements under self assessment specific to sole traders. For further guidance on self assessment, see the Notification of chargeability to income tax and capital gains tax and Self assessment filing deadline guidance notes.

For details of the implementation and timetable for Making Tax Digital (MTD), see the Making Tax Digital for income tax (MTD IT) ― overview guidance note.

Who should complete full pages

There are two types of self-employment supplementary pages: short pages (SA103S) and full pages (SA103F).

The short pages contain sufficient entry boxes for the typical small business, whereas, the full pages have boxes covering the more unusual types of income or deductions.

HMRC’s guidance on the Self-employment (full) supplementary pages notes (page SEFN1) is that a sole trader needs to complete full pages if any of the following applies:

•
turnover was above the VAT registration threshold ― £85,000 or more (this is pro-rated where the basis period is less than 12 months)
•
there has been a change in accounting date (see the Basis

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