Tax & Self-Assessment Guidance for Freelancers (2026)
Freelancers and self-employed professionals in the UK must manage their own tax obligations. Missing deadlines or miscalculating tax can be costly.
This guide covers everything you need to know for self-assessment in 2026, including record-keeping, allowable expenses, deadlines, and tips to simplify the process.
📋 Registering for Self-Assessment
If you’re newly self-employed:
- Register with HMRC as soon as possible (usually within 3 months of starting).
- You’ll get a Unique Taxpayer Reference (UTR) — essential for filing.
- Decide whether to operate as a sole trader or limited company (impacts tax filing, see internal link below).
👉 Read: How to Register as Self-Employed
🗓️ Key Deadlines for 2026
| Deadline | Action |
|---|---|
| 5 Oct 2026 | Register for Self-Assessment (new self-employed) |
| 31 Oct 2026 | Paper tax return submission |
| 31 Jan 2027 | Online tax return submission & pay any tax owed |
| 31 Jul 2027 | Pay second payment on account (if applicable) |
Tip: Set reminders and plan ahead, late filing incurs penalties.
💸 Allowable Expenses
Freelancers can deduct legitimate business expenses to reduce taxable profit. Common examples:
- Office supplies & software subscriptions
- Business travel & mileage
- Tools and equipment (linked to insurance posts)
- Phone, internet, and utilities proportion used for work
- Training courses related to your trade
Read:
👉 Tools & Equipment Insurance for Freelancers
👉 Income Protection for Self-Employed Workers
📑 Filing Your Self-Assessment
Step 1: Gather Records
- Income from all clients
- Bank statements & invoices
- Receipts for expenses
Step 2: Choose a Filing Method
- Online via HMRC portal (recommended, quicker & safer)
-
Paper form (must be received by HMRC by 31 Oct 2026)
Step 3: Calculate Tax & National Insurance
- Sole traders pay Income Tax + Class 2 & 4 National Insurance
-
Limited companies pay Corporation Tax, with dividends taxed separately
Step 4: Submit & Pay
- Pay any balance by 31 Jan 2027
-
Set up payments on account if HMRC requires advance payments for next year
🛠️ Tools to Simplify Tax
- Accounting software like QuickBooks, Xero, or FreeAgent
- Spreadsheet trackers for income & expenses
- HMRC’s own online tools and calculators
👉 Read: Compare Accounting & Invoicing Tools for Freelancers
✅ Top Tips for Freelancers
- Keep digital and physical copies of all invoices & receipts.
- Separate business and personal bank accounts for clarity.
- Claim only allowable expenses — HMRC can audit.
- Consider accounting software to automate calculations.
- Plan for quarterly or annual tax savings to avoid surprises.
🔗 Related Posts
Professional Indemnity Insurance for Freelancers
Public Liability Insurance for Freelancers
Freelancer Insurance Checklist 2026
Tools & Equipment Insurance for Freelancers
🏁 Conclusion
Filing self-assessment may seem daunting, but staying organised makes it manageable. Register early, keep accurate records, and use accounting tools to simplify the process.
Combine good record-keeping with the right insurance coverage to run your freelance business safely and confidently in 2026.