Retirement from self employment - tax returns

rubble2

I am 68 years old and have been self employed for the past 18 years. My accountant has handled all my tax affairs so I have no recent experience of completing tax returns.

I am considering retirement next April (to co-incide with the new tax year), so will therefore need to complete my own self assesment for what will purely be pension income from then on.
I intend to consult my accountant in advance to prepare for the event but wondered if there is any easy to follow guidance available for first time self assement virgins that I could consult so I can raise any queries in advance and avoid making mistakes?

Thanks 

csgohan4

Have a play around with the paper copy of this years tax return form
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/975548/sa100-2021.pdf

I used to do my tax returns before my income sources became too complex. But if your income sources are simple and easy quantify then you could do it yourself. But you need to make that leap yourself. No shame in paying a professional to do it, I do. 

[Deleted User]

Once the tax return is in (for 2021/22) ask your accountant to inform HMRC that you no longer fulfil the criteria for compulsory self-assessment. If a ‘notice to file’ is issued this too can be cancelled. If you don’t need to complete a tax return, you shouldn’t have to.

’ If you think you do not need to submit a tax return, for example because all your income is taxed under PAYE and you have no additional tax liability, you can phone HMRC on 0300 200 3310 and ask for the tax return to be withdrawn. If HMRC agrees, this will means that you no longer have to file a return.’