First-year Self Assessment guide
Your first year self-employed is easier when you start with a simple process from day one.
Create a monthly admin routine early: track sales, log expenses, keep receipts, and update your estimate. This prevents a large backlog before your first filing deadline.
Set reminders for key dates and maintain a running tax reserve. Even small monthly transfers make a major difference later.
If anything is unclear, ask for help early. Fixing misunderstandings in real time is much easier than correcting a year of records later.
Key points
- Start record-keeping in month one.
- Use calendar reminders for all tax milestones.
- Treat tax reserve as a non-negotiable monthly task.