Finalise your Income Tax position

How to submit your Self Assessment tax return while using Making Tax Digital for Income Tax.

Once you have made all the adjustments to your business income and expenses, you will need to finalise your Income Tax position for the year.聽

You must send HMRC information on other income sources that you have, such as savings or dividend income, before you finalise your Income Tax position.聽

Once you have told HMRC about all of your taxable income for the year, you can submit your tax return.聽

When you submit your tax return, you will declare that:聽

  • the information you have provided is correct and complete聽
  • you have finalised your Income Tax position for the tax year

Using compatible software聽

You will need to submit your final tax return through your Making Tax Digital for Income Tax compatible software. It is no longer possible to use your HMRC online services to submit your other income sources.聽聽

If your current software does not support the submission of your other income sources, ask your software provider if and when they will be adding this to your compatible software.聽

If they are not adding this function or if it will not be in place before you need to submit your tax return, you can either:聽

  • choose alternative or additional compatible software that will support the submission of your other income sources聽
  • contact the Making Tax Digital for Income Tax dedicated support team for guidance

When to finalise your Income Tax position聽

You must submit your tax return by 31 January following the end of the relevant tax year. If you miss the submission deadline, then you will be liable for a late submission penalty. Once the penalty point threshold is reached, then this becomes a financial penalty.聽

After you have submitted your tax return聽

The information you give to HMRC will then be used to generate your final Self Assessment tax bill for that tax year.聽

If you do not pay your Self Assessment tax bill by the relevant deadlines, you may need to pay a late payment penalty. Making Tax Digital for Income Tax will not change the way you pay tax or the dates payments are due.