The Self Assessment Calculator is designed to help self-employed people to quickly and easily pull together the information they need to complete their Self Assessment. It will help you quickly sort your income and expenses giving you the numbers you need to submit, along with a tax report for your records should you ever want or need to share it with an Accountant or HMRC.
Once it’s done, you just need to add the figures into the gov.uk website and away you go. If you have not completed a Self Assessment before you will need to register first, here.
We built this tool to support self-employed people during Covid-19
The Government has excluded millions of self-employed people from accessing the Self-employed Income Support Scheme by not allowing their 2019/20 tax returns to be used for eligibility. We’re campaigning for this to change. And when it does, we’re ready to support the rapid submission of Self Assessments.
Who can use this?
This tool is designed to cover those with relatively simple requirements. Here’s how to know if this tool will work for you:
Designed to help with sole traders to complete the self-employed part of their tax return
We expect VAT registered businesses will already have an accounting package to help them get the figures for their self-assessment, so we’re not supporting this at this time
We use the transaction data from your bank account to work out your figures, so it’s prepared on a cash basis
This tool will give you a single total figure for your allowable expenses at the end, which is all you need to submit to HMRC if your turnover is under £85,000
How does it work
Connect your bank accountWith your authorisation, we’ll securely read your bank transactions for the last tax year and sort them into business income and allowable expenses using our Accounting Intelligence.
Review your income and expensesLook through your business income and allowable expenses and make any adjustments to make sure your totals are correct.
Receive your tax reportWe’ll then finalise your Self Assessment report with the figures you need for your tax return, and send you a copy by email for your records.
Complete your Self AssessmentUse the figures we give you to complete and submit your Self Assessment to HMRC, either yourself via gov.uk and share your report with your accountant so they can do it for you.
Which banks are supported?
You can find our list of supported banks and credit card providers here.
How many accounts can I connect?
We’re launching this for support for only a single bank account.
Is this secure?
We use bank-grade security to ensure that your personal and financial data always stay protected. You can learn more about our security here.
Will you send me marketing?
No, we’ll only use your email to let you know when we’ve finished processing your transactions and to deliver your final Self Assessment Report.
How do I delete my data?
If you are not a Coconut customer you can delete your data from our systems at any point throughout the process. Plus once you’ve completed the process and we’ve delivered your Tax Report PDF via email, you can choose to delete your data if you don’t want to have online access to it anymore.
For our existing customers you will also receive a Tax Report PDF via email and you can delete your data via the app's Connections area.
How do I submit my Self Assessment?
You can share your tax report PDF with your accountant or you can use it yourself to complete your Self Assessment online. You can use this guide to help you complete it, and make sure that you are registered as self-employed with HMRC.
Why have you built this?
The Covid-19 crisis is putting many self-employed people at risk and so we want to help in whatever way we can. The most impactful change is going to come from the Government which is why we’re lobbying for change.
If we’re successful in getting 2019/20 Self Assessments included in eligibility for the Self-Employed Income Support Scheme, then this tool will be ready to help people get the figures they need to complete their Self Assessments in minutes.
A thank you to our partners who are helping us to make this happen