Self Assessment Tax Returns: Self Employed Industries

Self-Assessment for Hairdressers

HMRC must be informed as soon as possible if you believe that you need to file a tax return. The best way to do this is online at www.hmrc.gov.uk, but you can also register on a paper form. For this you will need your personal details, including your National Insurance Number. It is also important to note that if you are self-employed, information regarding self-employment will be needed too, such as when you started up your business, and the nature of your trade.

Once this has been done and HMRC have sent you confirmation of registration for self-employment, you should have received your Unique Taxpayer’s Reference (UTR). This is imperative for completion of a self-assessment tax return. A return should inform HMRC of your taxable income, gains, and expenses. If you choose to submit your return on paper, this needs to be done by October 31^st following the end of the relevant tax year. However you can also opt into online submission, in which case the deadline is January 31^st.

Failure to file a tax return by the deadline date results in an automatic fixed penalty of £100 issued by HMRC, unless there is reason to believe you have a ‘reasonable excuse’ for late or lack of submission. More information can be found on the HMRC website. As a self-employed worker, it is important to keep all records of incomes and expenditure. HMRC will need this to work out how much tax you need to pay, but documentation of expenses is also important on your behalf as you will be able to claim back on some of this. 

As a hairdresser, the most common expenses you can claim on include:

• Beauty and hair products
• Consumable equipment
• Protective clothing and uniforms
• Courses attended
• Laundry and cleaning
• Computer for work
• Postage and stationary
• Advertising
• Fares and travelling expenses*

*If you use your own vehicle, the running costs will also need to be factored into your expenses. Information regarding HMRC’s Fixed Scale Mileage Rate can be found on their website.

U-TAX

If you are having trouble with completing your self-assessment tax return, get in touch. U-Tax will be able to do it for you at just £75+VAT, including liaising with HMRC on your behalf. With a fast turnaround rate; generally just 24 hours, have a look at www.u-taxaccountancyservices.co.uk for details on the services U-Tax offer, along with all contact details.