Clear records.
Better prepared.

Starting as a sole trader

You generally need to register for Self Assessment as a sole trader if you earn more than £1,000 in a tax year. A UK tax year runs from 6 April to 5 April. Other circumstances can also require registration, including some cases below this amount.

Keep business records from the start of trading. Check HMRC’s registration guidance for your circumstances, including when you already use Self Assessment for another reason.

VAT: look at taxable turnover

Registration is generally required if VAT-taxable turnover exceeds £90,000 over the last 12 months, or you expect to exceed that amount in the next 30 days alone. This is a turnover test, rather than a profit test. Businesses based outside the UK can face different registration rules.

The standard VAT rate is 20%. Reduced-rate, zero-rated and exempt supplies have different treatment; the applicable rate depends on what you supply.

Self Assessment: the 2025/26 tax year

These general dates relate to the tax year 6 April 2025 to 5 April 2026.

Tell HMRC, if required

5 October 2026

Paper return received by HMRC

31 October 2026

Online return and tax payment

31 January 2027

The notification date applies to relevant first-time or returning filers. If you register after 5 October 2026, HMRC may give a different filing deadline; the payment deadline remains 31 January 2027. Check your notice and the official guidance for exceptions.

Making Tax Digital has its own requirements

For sole traders and landlords registered for Self Assessment, the start date depends on qualifying income from self-employment and property combined, before expenses, and on any applicable exemptions.

2024/25 qualifying income over £50,000

From 6 April 2026

2025/26 qualifying income over £30,000

From 6 April 2027

2026/27 qualifying income over £20,000

From 6 April 2028

MTD requires compatible software, digital records and quarterly updates. Use HMRC’s eligibility guidance to check whether and when you must join.

Keep the records behind the numbers

HMRC generally requires self-employed business records to be kept for at least five years after the 31 January submission deadline for the relevant tax year. Different rules can apply to very late returns.

Plan how you will retain supporting documents as well as business figures. This is HMRC’s recordkeeping requirement; it is not a statement about the product’s storage period.

A clearer starting point for your accountant

Bring together income, expense documents, payments and questions about changes in your business. Ask your accountant which records and reporting routes fit your circumstances.

EZ@Work provides clients, projects, tasks, time tracking, recorded income and expenses, invoices and financial report exports. Ezri helps with supported business actions; changes require your approval. Availability depends on your plan and usage limits.