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This guidance note deals with requirements under self assessment specific to sole traders. For further guidance on self assessment, see the Notification of chargeability to income tax and capital gains tax guidance note.

The deadline to file a tax return is generally the 31 January (31 October for paper filing) following the end of the tax year in question, but this can be different if the date the notice to file the tax return was issued is after 31 July, see the Self assessment filing deadline guidance note.

Note that for the tax year 2024/25 onwards, the cash basis is the default method to work out a sole trader’s income and expenses. If the accruals basis (traditional accounting) is used instead then it is necessary to opt out of the bash basis when filling in the self assessment form. See also guidance on the cash basis.

For details of the implementation and timetable for Making Tax Digital (MTD), see the Making Tax Digital for income tax (MTD IT) ― overview guidance note.