Tax Year-End Checklist for Self-Employed (2025/26)

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, tidy up your records, and avoid last-minute surprises when you file your Self Assessment return.

The 2025/26 tax year ends on 5 April 2026. This checklist covers the key tasks to complete before that date — plus what to prepare for the new tax year, including Making Tax Digital for Income Tax which goes live on 6 April 2026.

Review Self-Employed Income and Invoicing

Review your income for the year:

• Check that all invoices issued during 2025/26 have been recorded
• Chase any outstanding payments from clients — income received before 5 April falls in this tax year
• If you use cash basis accounting (the default for most sole traders), only income actually received by 5 April counts for 2025/26
• If you use accruals accounting, income invoiced before 5 April 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 2025/26 tax bill.

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:

• If you need to buy equipment or supplies, purchasing before 5 April means the expense falls in the 2025/26 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

Pension contributions made before 5 April 2026 reduce your taxable income for the 2025/26 tax year.

• Annual allowance (2025/26): You can contribute up to £60,000 (or your total earnings, whichever is lower) with tax relief
• Carry forward: If you didn't use your full allowance in the previous three tax years (2022/23, 2023/24, 2024/25), you can 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 2026 to count for this tax year

Example: Sarah earns £55,000 profit and contributes £10,000 to her pension before 5 April. 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.

Charitable Donations and Gift Aid

If you make charitable donations under Gift Aid before 5 April 2026, they 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
• Extending to the previous year: When you file your 2025/26 return, you can elect to treat some donations as if they were made in 2024/25 if that's more beneficial

Tax-Free Allowances for 2025/26

Before the tax year ends, confirm you're using your allowances:

Allowance (2025/26)	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 (2025/26)

If you have investments with gains, consider whether to sell before 5 April to use this year's capital gains allowance (it doesn't carry forward).

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 all 2025/26 records until at least 31 January 2032 (5 years after the 31 January 2027 filing deadline).

Preparing for Making Tax Digital (6 April 2026)

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

Before 6 April 2026:

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
4. Know your quarterly deadlines — first quarterly update for 2026/27 covers 6 April to 5 July 2026, due by 7 August 2026

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

Tax Payments and Cash Flow Planning

Check your payment position:

• Review whether you've set enough aside for your tax bill — 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
• The balancing payment for 2025/26 plus first payment on account for 2026/27 are both due on 31 January 2027

Reduce payments on account (if needed):

If you expect your 2025/26 income to be lower than 2024/25, you can apply to reduce your payments on account through your HMRC online account. Do this before the 31 July 2026 second payment is due.

Key Self Assessment Dates for 2025/26

Date	What to do
5 April 2026	2025/26 tax year ends — final day for expenses, pension contributions, Gift Aid
6 April 2026	2026/27 tax year starts — MTD for Income Tax goes live (income over £50,000)
5 October 2026	Register for Self Assessment if you became self-employed in 2025/26
31 January 2027	File 2025/26 Self Assessment return online and pay tax owed
31 July 2027	Second payment on account for 2026/27

Frequently Asked Questions

What is the last day of the 2025/26 tax year?

The 2025/26 tax year runs from 6 April 2025 to 5 April 2026. The last day is 5 April 2026. Any income received or expenses paid after this date fall into the 2026/27 tax year.

Can I still claim expenses after the tax year ends?

You can claim expenses on your Self Assessment return after 5 April — the return isn't due until 31 January 2027. But the expense itself needs to have been incurred during the 2025/26 tax year (or be a valid pre-trading expense). You can't backdate a purchase made in April 2026 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 31 October 2026 (paper). The 5 April deadline is for the tax year itself, not for filing.

What changes 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 runs from 6 April to 5 July 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
• Making Tax Digital for Income Tax - GOV.UK
• Capital Gains Tax allowances - GOV.UK