Freelancer End of Year Tax Checklist UK: Everything to Do Before 5 April
The UK tax year ends on 5 April. Here are 15 tasks every freelancer should complete before then — some could save you hundreds in tax. Interactive checklist included.
📅 Key dates: The 2025/26 tax year runs from 6 April 2025 to 5 April 2026. Your Self Assessment return for this year is due by 31 January 2027 (online) with tax payable the same day. But the tasks below should be done before 5 April to maximise your deductions.
📋 Your Year-End Checklist
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- 1. Reconcile all income Check every invoice was paid. Chase any outstanding before year end — even partial payment counts as income in the year received (cash basis) or invoiced (accruals basis).
- 2. Gather all expense receipts Go through bank statements, email receipts, and that drawer of paper receipts. Every missed receipt is missed tax relief. Full deductions guide →
- 3. Calculate home office deduction Choose between the flat rate (£312/year for 25-50 hours/month at home) or actual proportion method. The flat rate is simpler; actual costs may be higher if you have a dedicated room.
- 4. Review mileage and travel expenses HMRC approved mileage rates: 45p/mile for the first 10,000 miles, 25p/mile after. If you haven't been tracking, estimate now using diary/calendar entries. Also claim public transport, parking, and congestion charges.
- 5. Make pension contributions before 5 April Personal pension contributions get tax relief at your marginal rate. Contributing before 5 April counts for this tax year. £1,000 into a pension only costs a basic rate taxpayer £800 after tax relief. This is the #1 missed saving.
- 6. Use your ISA allowance Not a tax deduction, but using your £20,000 ISA allowance before 5 April protects future investment income from tax. Any savings you won't need for tax bills should be in an ISA.
- 7. Buy necessary equipment before 5 April Need a new laptop, phone, or office furniture? Buy it before year end to claim the expense this tax year. The Annual Investment Allowance lets you deduct 100% of qualifying capital purchases.
- 8. Review and cancel unused subscriptions Audit every recurring business subscription. Cancel anything you're not using. This saves money AND simplifies your expenses for filing.
- 9. Check VAT threshold Review your rolling 12-month turnover. If you're approaching £90,000, consider whether to register for VAT. Use our VAT calculator →
- 10. Prepay annual expenses If you pay for software, insurance, or services annually, paying before 5 April moves the expense into this tax year. Useful if your income is higher this year than expected next year.
- 11. Check your National Insurance record Visit gov.uk/check-national-insurance-record to see if you have any gaps. Voluntary Class 2 contributions (£3.45/week) are incredibly cheap insurance for your state pension. NI guide →
- 12. Review your accounting method Are you on cash basis or accruals? Cash basis is simpler (income when received, expenses when paid). Accruals may better reflect large projects. You can switch at year end — check which gives a lower tax bill.
- 13. Prepare a profit estimate Estimate your total profit for the year to plan your tax bill. Use our Freelance Tax Calculator to see what you'll owe. Make sure your tax savings account has enough.
- 14. Back up your financial records HMRC requires you to keep records for 5 years after the 31 January filing deadline. Back up bank statements, invoices, receipts, and mileage logs. Cloud storage counts.
- 15. Set up Making Tax Digital (if applicable) From April 2026, self-employed people earning over £50,000 must use MTD-compatible software for quarterly reporting. If this applies to you, get set up before the new tax year starts.
Why Year-End Tax Planning Matters
Most freelancers think about tax when the Self Assessment deadline approaches in January. By then, the tax year ended 9+ months ago — and you've missed dozens of opportunities to legally reduce your bill.
The weeks before 5 April are your last chance to:
- Make pension contributions (tax relief at your marginal rate)
- Buy deductible equipment
- Prepay annual business expenses
- Use your ISA allowance
- Decide whether to defer or accelerate income
The 3 Biggest Tax-Saving Opportunities
1. Pension Contributions (Save 20-40% Tax)
This is the biggest tax saving most freelancers miss. Pension contributions reduce your taxable profit, saving you Income Tax AND Class 4 National Insurance.
Example: A freelancer on £50,000 profit contributes £5,000 to a pension before 5 April. Savings: £1,000 Income Tax (20%) + £300 Class 4 NI (6%) = £1,300 saved. The government adds another £1,250 in tax relief directly to your pension. Total benefit: £2,550 from a £5,000 contribution.
2. Bring Forward Equipment Purchases
If you need to buy a laptop, phone, or other equipment in the next few months anyway, buying before 5 April lets you claim the deduction in this tax year. On a £1,500 laptop, that's £300-600 in tax relief depending on your rate.
3. Claim All Home Office Costs
If you work from home even part-time, you're entitled to claim a deduction. The simplified flat rate gives you:
- 25-50 hours/month at home: £10/month (£120/year)
- 51-100 hours/month: £18/month (£216/year)
- 101+ hours/month: £26/month (£312/year)
Or calculate actual costs (proportion of rent/mortgage interest, utilities, broadband, council tax) if your dedicated workspace is a significant part of your home.
After 5 April: What to Do Next
- April-May: Finalise your profit figure for the year
- May-June: Prepare your Self Assessment return (or send records to your accountant)
- July-September: File your return (you don't have to wait until January)
- 31 July: Pay your second payment on account for the previous year
- 31 January: Final deadline for online filing and tax payment
💡 File early: There's no penalty for filing your return in April/May. The sooner you file, the sooner you know exactly what you owe — and you still don't have to pay until 31 January. Early filing reduces stress and gives you time to plan payments.
Know Your Numbers Before Year End
Use our free tax calculator to estimate your bill, then our profit margin calculator to see exactly what you're taking home.
Free Tax Calculator →