Tax Year-End Checklist for Self-Employed (2026/27)

A tax year-end checklist for self-employed people is a structured list of tasks to complete before the tax year closes on 5 April. It helps you claim every allowable expense, make tax-efficient pension contributions, use your allowances, tidy up your records, and avoid last-minute surprises.

The 2026/27 tax year ends on 5 April 2027. This checklist covers the forward-looking tasks worth completing before that date to reduce your 2026/27 tax bill — pension and ISA contributions, using your allowances, and timing income and expenses. It also has a separate section for filing your just-ended 2025/26 return by 31 January 2027, so you can act on whichever applies to you.

Review Self-Employed Income and Invoicing

Review your income for the year:

• Check that all invoices issued during 2026/27 have been recorded
• Chase any outstanding payments from clients — income received before 5 April 2027 falls in this tax year
• If you use cash basis accounting (the default for most sole traders), only income actually received by 5 April 2027 counts for 2026/27
• If you use accruals accounting, income invoiced before 5 April 2027 counts even if payment arrives later

Reconcile your bank statements:

• Match every payment received against an invoice or income record
• Flag any unexplained deposits — these may be taxable income
• Separate personal and business transactions if you use a combined account

Claim All Allowable Expenses and Deductions

The tax year end is your last opportunity to incur expenses that reduce your 2026/27 tax bill. Review your records before 5 April 2027 so nothing is missed.

Check you've claimed everything:

• Review the full list of allowable expenses — office costs, travel, professional fees, insurance
• Claim vehicle mileage if you drive for business
• Claim working from home costs if applicable
• Compare simplified expenses vs actual costs to see which gives a higher deduction

Gather missing receipts:

• Chase any receipts you haven't filed — for small amounts, bank statements with a note of what the purchase was can serve as evidence
• Photograph paper receipts that are fading
• Organise digital receipts into folders by category

Consider timing of purchases:

• Equipment or supplies purchased before 5 April 2027 fall in the 2026/27 tax year
• Under the Annual Investment Allowance, you can claim the full cost of qualifying equipment (up to £1 million) in the year of purchase

Pension Contributions Before 5 April 2027

Pension contributions made before 5 April 2027 reduce your taxable income for the 2026/27 tax year.

• Annual allowance (2026/27): Up to £60,000 (or your total earnings, whichever is lower) qualifies for tax relief
• Carry forward: If you didn't use your full allowance in the previous three tax years (2023/24, 2024/25, 2025/26), you may be able to carry forward unused amounts
• Basic rate relief: Your pension provider claims 20% tax relief automatically. If you're a higher or additional rate taxpayer, you claim the extra relief through Self Assessment
• Deadline: Contributions need to be made by 5 April 2027 to count for the 2026/27 tax year

Example: Sarah earns £55,000 profit and contributes £10,000 to her pension before 5 April 2027. Her pension provider claims £2,500 (20% relief) from HMRC, making the total pension contribution £12,500. Sarah claims an additional £2,500 (the difference between 40% and 20%) on her Self Assessment return.

Use Your ISA Allowance Before 5 April 2027

An ISA (Individual Savings Account) lets you save or invest tax-free, and the allowance is use-it-or-lose-it — it doesn't carry over to the next year.

• ISA allowance (2026/27): You can pay in up to £20,000 across your ISAs this tax year
• Deadline: Any unused allowance is lost after 5 April 2027 — it can't be carried forward
• For the self-employed: Interest, dividends and gains inside an ISA are tax-free and don't need reporting on your Self Assessment return, which can simplify your tax position

This is general information about the allowance, not investment guidance. For how to invest, consider speaking to a qualified adviser.

Charitable Donations and Gift Aid

Charitable donations made under Gift Aid before 5 April 2027 can reduce your tax bill:

• Basic rate taxpayers: The charity claims 25% on top of your donation; no further benefit to you
• Higher rate taxpayers: You claim the difference between 40% and 20% on your Self Assessment return, reducing your tax bill
• Carrying back: When you file your 2026/27 return, you can elect to treat some donations as if they were made in 2025/26 if that's more beneficial

Tax-Free Allowances for 2026/27

Confirm you've used your allowances for 2026/27:

Allowance (2026/27)	Amount	Notes
Personal allowance	£12,570	Reduces by £1 for every £2 of income above £100,000
Trading allowance	£1,000	If total trading income is under £1,000, no need to report
Dividend allowance	£500	First £500 of dividends is tax-free
Personal savings allowance	£1,000 (basic) / £500 (higher)	Tax-free savings interest
Capital gains annual exempt amount	£3,000	Tax-free capital gains (2026/27)

If you have investments with gains, the capital gains annual exempt amount needs to be used before 5 April 2027 — it doesn't carry forward.

National Insurance for the Self-Employed

Self-employed National Insurance is paid through your Self Assessment return, so it's worth understanding your position before the year ends.

• Class 4 (2026/27): 6% on profits between £12,570 and £50,270, then 2% on profits above £50,270
• Class 2 (2026/27): If your profits are at or above the small profits threshold of £7,105, Class 2 is treated as paid automatically and you get the credit towards your State Pension without paying anything
• Below the threshold: If your profits are under £7,105, you can pay Class 2 voluntarily at £3.65 a week to protect your State Pension record — a low-cost way to keep your qualifying years complete

Marriage Allowance

If you or your partner earns below the personal allowance, Marriage Allowance can reduce a couple's tax bill:

• The lower earner can transfer £1,260 of their personal allowance to a basic-rate taxpaying spouse or civil partner
• This can save the couple up to £252 in the 2026/27 tax year
• You can also backdate a claim for up to four previous tax years if you were eligible

Year-End Records and Documentation

Complete records make filing your return faster and protect you if HMRC opens an enquiry.

Year-end records checklist:

• All sales invoices and income records
• Receipts and invoices for every business expense
• Bank statements for all business accounts (and personal accounts if used for business)
• Mileage log (if claiming vehicle expenses)
• Hours worked from home each month (if using simplified expenses flat rate)
• Mortgage or loan statements (if you have rental property and claim mortgage interest relief)
• P60 or P45 from any employment
• Dividend vouchers
• Pension contribution statements

Back up everything digitally. Store copies in at least two places — cloud storage and a local drive. For more detail, see our guide on what records to keep.

Retention period: Keep your 2025/26 records until at least 31 January 2032 (5 years after the 31 January 2027 filing deadline), and your 2026/27 records for the equivalent period.

Making Tax Digital for Income Tax (Now Live)

If your qualifying income (self-employment plus property) exceeds £50,000, you are required to use Making Tax Digital for Income Tax, which is live from the 2026/27 tax year.

If you haven't set up yet, act now:

1. Choose MTD-compatible software — check HMRC's list of compatible software
2. Sign up for MTD through your HMRC online account (you need to have filed at least one Self Assessment return)
3. Set up digital records — your income and expenses need to be recorded in compatible software from 6 April 2026
4. Know your quarterly deadlines — updates are cumulative (year-to-date). The first quarterly update for 2026/27 covered 6 April to 5 July 2026 and was due by 7 August 2026; the second quarterly update (Q2) covers 6 April to 5 October 2026 and is due by 7 November 2026

If your income is between £30,000 and £50,000, you have until 6 April 2027, but setting up digital records now will ease the transition.

Filing Your 2025/26 Return by 31 January 2027

Separate from planning for 2026/27, you still need to file and pay for the tax year that ended on 5 April 2026.

Key filing tasks:

• File your 2025/26 Self Assessment return online by 31 January 2027 (the paper deadline was 31 October 2026)
• Pay the 2025/26 balancing payment plus your first 2026/27 payment on account, both due on 31 January 2027
• Review whether you've set enough aside — the budgeting guide explains the 25-30% rule
• If you're on a Budget Payment Plan with HMRC, check that your payments are on track

Reduce payments on account (if needed):

If you expect your 2026/27 income to be lower than 2025/26, you can apply to reduce your payments on account through your HMRC online account, up to the 31 January 2027 deadline.

Key Self-Employed Tax Dates

Date	What to do
7 November 2026	Second MTD quarterly update (Q2) due, if you've signed up
31 January 2027	File 2025/26 return; pay 2025/26 balancing payment plus first 2026/27 payment on account
5 April 2027	2026/27 tax year ends — last day for expenses, pension, ISA and CGT allowances, Gift Aid
6 April 2027	2027/28 tax year starts; MTD extends to qualifying income over £30,000
31 July 2027	Second payment on account for 2026/27

Frequently Asked Questions

What is the last day of the 2026/27 tax year?

The 2026/27 tax year runs from 6 April 2026 to 5 April 2027. The last day is 5 April 2027. Any income received or expenses paid after this date fall into the 2027/28 tax year.

Can I still claim 2026/27 expenses after the tax year ends?

You can claim expenses on your Self Assessment return after 5 April 2027 — the 2026/27 return isn't due until 31 January 2028. But the expense itself needs to have been incurred during the 2026/27 tax year (or be a valid pre-trading expense). You can't backdate a purchase made in April 2027 to the previous year.

Do I need to file my return by 5 April?

No. The Self Assessment return for 2025/26 is due by 31 January 2027 (online) or was due 31 October 2026 (paper). The 5 April deadline is for the tax year itself, not for filing.

What changed from 6 April 2026?

The biggest change is Making Tax Digital for Income Tax, which requires sole traders and landlords with qualifying income over £50,000 to keep digital records and submit quarterly updates to HMRC. The first quarterly update period ran from 6 April to 5 July 2026, with a deadline of 7 August 2026.

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This guide is for informational purposes only and does not constitute tax, legal, or financial advice. Tax rules change frequently. Always verify current requirements on GOV.UK or consult a qualified accountant for your specific situation.

Official Sources

• Self Assessment tax returns - GOV.UK
• Expenses if you're self-employed - GOV.UK
• Tax relief on pension contributions - GOV.UK
• Individual Savings Accounts (ISAs) - GOV.UK
• Self-employed National Insurance rates - GOV.UK
• Marriage Allowance - GOV.UK
• Making Tax Digital for Income Tax - GOV.UK
• Capital Gains Tax allowances - GOV.UK