The January panic, sorted

Self Assessment for sole traders: the Reddit questions, answered

Search “self assessment sole trader reddit” in January and it's pure dread — receipts everywhere, deadline looming, “what can I even claim?” Here's the calm version.

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The Self Assessment deadline for online returns is 31 January, covering the tax year that ended the previous 5 April — plus any payments on account due the same day (and again on 31 July). Miss it and it’s an automatic £100 penalty, then more.

The reason it’s painful is almost never the form itself — it’s reconstructing a whole year from a carrier bag of receipts in the last week. The people who don’t dread it are the ones whose records already exist.

The questions that keep coming up

When’s the deadline?

Online returns and the tax owed are due by 31 January, for the tax year ending the previous 5 April. If you make payments on account, the second one is due 31 July. Register for Self Assessment by 5 October if it’s your first year.

What can I actually claim as a sole trader?

Allowable business expenses — materials, tools, equipment, business mileage (45p/mile for the first 10,000 miles), phone, insurance, accountancy fees, workwear/PPE, and more. The trick is having them logged and categorised, not guessing in January. Mileage alone is often hundreds of pounds people forget to claim.

Do I need an accountant?

Not legally, but most sole traders find one pays for itself — especially with CIS rebates or anything beyond the simplest return. Either way, the job is far cheaper and faster for them (or you) if the records are already clean and categorised.

How do I never dread January again?

Capture as you go instead of saving it up. With TradesOffice you text Amy your invoices and snap your receipts through the year; everything’s stored, categorised to HMRC’s expense categories, with mileage and CIS tracked. Come January your return is a tidy export, not an archaeology dig. WhatsApp only — no app, £19.99/month, free trial.

What about Making Tax Digital?

From April 2026, sole traders over £50k must keep digital records and file quarterly (then £30k in 2027, £20k in 2028) — so the once-a-year scramble is being phased out anyway. Keeping records as you go now gets you ahead of it.

Where it gets discussed: r/UKPersonalFinance · r/SmallBusinessUK · r/uktrades

Make next January a non-event

Text Amy as you work and your return writes itself in the background — categorised, with mileage and receipts already in. Free for 14 days, no card.

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