What is the significance of the new tax year?

The new tax year is a perfect time to reset, reorganise, and get ahead, especially for those with side hustles or freelance income.

How can a spreadsheet help with record-keeping for a side hustle?

A spreadsheet can track income and expenses from April 6th onwards, making it easier to see where you stand and if you need to file a tax return.

What is the deadline for registering for Self Assessment?

The deadline for registering for Self Assessment is October 5th for first-time filers, with a paper return due by October 31st and an online return due by January 31st.

How can staying organized with record-keeping make tax time less stressful?

Keeping up-to-date records throughout the year can replace a last-minute scramble and help avoid penalties for missing deadlines, especially with the upcoming changes for Making Tax Digital.

Start the new tax year right: Stay on top of your side hustle records

CREATED BY ALISON MEAD

Published: 13/04/2026 @ 09:01AM

#TaxYearReset #FreelanceIncome #SideHustleOrganisation #NewTaxYearGoals #SpreadsheetSolutions

As we step into a new tax year, it's the perfect moment to reset, reorganise and get yourself one step ahead, especially if you have a side hustle, freelance income or anything outside of PAYE. One of the simplest but most effective things you can do right now is start a fresh spreadsheet ...

Get ahead for the new tax year by organising your side hustle records for a stress-free financial season

It doesn't need to be complicated. A clear record of what you earn and what you spend, from the 6th of April onwards, can save you a huge amount of time (and stress) later on. It also makes it much easier to see where you stand throughout the year, rather than guessing when January rolls around.

The new tax year runs from the 6th April 2026
to the 5th April 2027!

Everything you earn within that window counts toward your next return. For those running a side hustle, the £1,000 trading allowance is still a key threshold. If your total trading income goes over that during the tax year, you may need to complete a Self Assessment tax return.

It's also worth remembering that HMRC doesn't just look at income. If you've registered for self-employment, or if you've submitted a tax return in previous years, HMRC may still expect a return from you unless you've told them otherwise.

That's where good record-keeping really comes into its own. A simple spreadsheet makes it much easier to answer questions like:

Did I go over the £1,000 allowance?
Do I need to register?
Am I already in the system and expected to file?

When it comes to deadlines, the structure remains the same. If you need to submit a Self Assessment tax return for a tax year, the key dates to keep in mind are:

5th October – deadline to register for Self Assessment if it's your first time
31st October – paper return deadline
31st January – online return deadline and payment due date

Miss the January deadline, and HMRC will usually issue an automatic penalty, even if no tax is owed, so getting organised early really does make a difference.

The good news is that this is all far less stressful when you keep things up to date as you go. A quick monthly update to your spreadsheet can replace that last-minute scramble entirely. And with Making Tax Digital starting to come into play for many self-employed people.

Building that habit now will put you in a much
stronger position for the changes ahead!

If you're running a side hustle, thinking about starting one, or just want to feel more confident about how it all works, I'll be running a series of side-hustle workshops over the coming months. They're designed to take the guesswork out of things, help you understand what HMRC actually expects, and give you simple systems you can stick to.

If that sounds useful, feel free to reach out, and if you haven't downloaded my self-employment or side-hustle spreadsheet yet, you can find it by clicking here.

Until next time ...

ALISON MEAD
I'm your Bookkeeping Buddy: Discover more by clicking here!

Would you like to know more?

If anything I've written in this blog post resonates with you and you'd like to discover more about starting the new tax year right, it may be a great idea to give me a call on 01604 420057 and let's see how I can help you.

Share the blog love ...

Buffer

Facebook

Twitter

#TaxYearReset #FreelanceIncome #SideHustleOrganisation #NewTaxYearGoals #SpreadsheetSolutions

About Alison Mead ...

Alison loves bookkeeping and supporting bookkeepers. She has been helping clients to be better bookkeepers in Sage 50 for over 24 years and has been Xero Accredited in accounts and payroll for a number of years too.

She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.

Alison combines her role at Silicon Bullet with her Forever Living network marketing businesses and is often to be seen at business networking meetings as she likes to keep busy.

You know what they say: if you want something done well ask a busy person!

More blog posts for you to enjoy ...

		Making Tax Digital registration: Why you should act before HMRC does If you are required to use Making Tax Digital for Income Tax but haven't yet registered, my advice is simple: don't wait for HMRC to do it for you. Taking control of your Making Tax Digital registration now gives you the oppo...
		I've passed my Xero level 2 certification for another year While I'm certainly going to allow myself a little celebration, maintaining Xero certification for bookkeepers is about much more than having another certificate to display. For me, it's about demonstrating that the knowledge...
		Xero Classic Expenses is being retired in 2027 If your business still uses Xero Classic Expenses, there is an important change coming that is worth preparing for sooner rather than later. Xero has confirmed that its Classic Expenses feature will be retired in early 2027, ...
		MTD For Self Assessment: Don't panic if you missed the first deadline If you've recently discovered that the first Making Tax Digital (MTD) for Income Tax quarterly submission deadline has passed, don't panic. The first deadline, August 7, has passed, but there are currently no late-filing pena...
		Bookkeeping Buddy: Why DIY Bookkeeping Doesn't Mean Doing It Alone Many small business owners attempt DIY bookkeeping to save costs and maintain control. Yet, this path can be daunting. Learn how you can manage your finances more effectively with my Bookkeeping Buddy subscription, ensuring y...
		First MTD for Income Tax submissions: Early lessons from the front lines Making Tax Digital for Income Tax is now becoming a reality for many self-employed individuals and landlords. Bookkeepers across the country are beginning to complete their first quarterly submissions ......
		Building A Bookkeeping Business: Increasing Your Prices You may have already done the difficult part of starting your own bookkeeping business; you've found clients, you've decided on your pricing, and now you're getting on with the day-to-day of looking after the clients you've ....
		Getting your sole trader clients ready for MTD For Income Tax If you're a bookkeeper supporting sole trader clients, you've likely already started receiving questions about Making Tax Digital (MTD) for Income Tax. While the changes may seem daunting at first, they're really about encour...

Other bloggers you may like ...

		Where do corporate visitors to Milton Keynes stay? Posted by Emily Freeman on https://blog.shortstay-mk.co.uk Corporate visitors to Milton Keynes need space, privacy and easy city access. This post explains why serviced apartments beat hotels and home‑shares. ...
		Could AI finally solve the UK productivity problem? Posted by Roger Eddowes on https://blog.essendonaccounts.co.uk For years, UK productivity has been something of an economic headache. Before the financial crisis in 2008, productivity was growing at a much healthi ...
		Building professional relationships: How to create connections that last Posted by Dave Cordle on https://blog.davecordle.co.uk Building professional relationships can make a huge difference throughout your career. The people you meet along the way can become colleagues, mentor ...
		The hidden risk of working from home alone: Why daily check-ins matter Posted by Steffi Lewis on https://www.yourping.uk Working from home alone has become the norm for millions of people across the UK, offering flexibility, fewer commutes and a better work-life balance. ...