If you are a self-employed sole trader with an annual business turnover below the UK VAT threshold of £90,000, you can file using the short version of the Self Assessment tax return (Form SA103S). To make this process seamless, you can map the figures from your in-app Profit and Loss report directly into your official HMRC forms, ensuring your annual tax filing is perfectly accurate and organised. 📊
1. Prepare your records before filing
Before you log into the government portal, it is vital to make sure your financial data is fully up to date:
Categorise your transactions: Review your transactions for the relevant tax year to ensure every income and expense item is under the correct heading.
Include external transactions: If you have any business transactions that occurred outside of your main business account, you can manually enter them into the app using our sales invoices and bills features.
Collaborate with your adviser: If you work with a professional accountant, you can give them secure, view-only access via our secure accountant platform so they can review, adjust, and input missing bookkeeping items for you. 🤝
⚖️ Important: The app automatically tracks and calculates your records on an accruals (traditional) accounting basis, which logs income and expenses based on the invoice or bill date. If you use an alternative reporting method, such as the HMRC Cash Accounting Scheme, you will need to adjust your numbers to reflect the cash exchange dates instead.
2. How to access your figures and file your return
Once your records are tidy and fully categorised, follow these steps to complete your filing:
Sign in to the official HMRC online portal using your Government Gateway credentials to start your return. You can save a draft of your form at any point and return to submit it later.
Open your app and navigate to the Accounting tab at the bottom of your screen. 📲
Tap Profit & loss.
Set the date filter to match the specific tax year period you are preparing your tax return for (such as 6 April to 5 April).
Head to the 'Fill in your return' section on the HMRC website, and copy your corresponding in-app 'Income' and 'Expenses' totals straight into the matching form boxes.
You can securely log in, verify your tax brackets, and complete your digital submission directly by visiting the official GOV.UK Self Assessment portal. 🖥️