Normally, the tax you owe comes directly from your wages and is called PAYE – you’ll see it on your payslips. However, if you’re self-employed, a freelancer, or a side-hustler, you may owe tax that won’t be taken from your wages. For this, you need to submit a self-assessment tax return. Which can be complicated, time-consuming, and stressful.

When you choose Penny Ledger, we make it simple for you. Here is how we do it:

Easy. Click any of the “Get Started” links on the site, and you’ll be directed to a page to register your login details.

You’ll receive an email to the one you registered with, providing a 4-digit code. Simply enter this code into the box on the login page, and that’s it.

You won’t have to do this part again, we just want to ensure we have the correct details for you on file.

You’ll be directed to your Penny Ledger dashboard. Here, we ask you to pick the tax year for your self-assessment tax return. You’ve got three options: file for the most recent tax year (2023-2024), file for the previous tax year (2022-2023), or select “File for earlier years” from the drop-down menu, which offers multiple tax years to choose from.

Each tax year runs from 6th April to 5th April for the 12 month period. This is why if you’re filing for the most current tax year it will appear as 2023-2024.

As the next step of the process, we’ll ask for some basic information: email, date of birth, employment status, National Insurance number, and your Unique Tax Reference number.

Please note, at this point we will need you to upload a Photo ID (passport or driving license).

Once we know a little more about you, we’ll ask for additional information on why you are filing, namely how much you earned, whether you received any benefits and any expense claims.

Unfortunately, HMRC won’t just take your word for it when it comes to tax. We’ll need to prove exactly  what you’ve earned and spent. Send us your invoices, receipts, and details of any rental income or investments.

Don’t worry!! We will prompt you on what we need when you get to this stage.

Super simple. We take payment for the use of the Penny Ledger service. After successful payment has been taken, you will be directed to your personalised Penny Ledger Dashboard to begin your tax return process.

You’ll be matched with a financial expert—a fully qualified, accredited accountant who knows all the ins and outs of self-assessment. Most importantly, someone you can trust.

So sit back, pop the kettle on, and leave the maths to your expert.

Armed with all your paperwork, your Penny Ledger expert will quickly and accurately fill out your self-assessment form and ensure it’s all ready for submission.

You’ll have a chance to check that everything is present and correct your self-assessment tax return. Once you’ve confirmed we will submit it in a timely manner so you don’t get fined for missing the deadline.

HMRC will then check our calculations and let you know what needs to be paid and when. You’ll need to make a payment before January 31 and another before July 31.

If you have any questions about the amount you owe, feel free to ask us.

That’s it – your self-assessment is sorted for another year. Pop a note in your calendar to do the same again in 12 months and Penny Ledger will be here to help.