Accurate record keeping: A Tutors Guide
As explained in our tutors guide to self-assessment, the income you receive through your private tutoring is classed by HM Revenue & Customs (HMRC) as self-employment income. For the purposes of self-assessment therefore, you are classed as running a business as a self-employed tutor.
It is imperative that you keep accurate and up to date records of your business income and expenses for your tax return. As your tax return will also need to include any other sources of income, such as employment income, savings interest etc, you’ll also need to keep records of your personal income.
As part of the annual fee, we are here to answer any questions you may have regarding your record keeping responsibilities and your self-assessment tax affairs as a whole.
Other tax guides for Tutors
What records to keep
You’ll need to keep records of:
all your tutoring income
all business expenses (see our expenses guide for further advice on expenses)
VAT records if you’re registered for VAT
PAYE records if you are also employed, such as your P60 and P11d
records about your other personal income, such as savings and investment income
Types of proof include:
all receipts for materials and services
bank statements, chequebook stubs
sales / fee invoices
How long to keep your records
You must keep your records for at least 5 years after 31 January of the relevant tax year.
If you send your 2013 to 2014 tax return online by 31 January 2015, you must keep your records until at least the end of January 2020.
If your records are lost, stolen or destroyed
If you can’t replace your records, you must do your best to provide figures. Tell HM Revenue and Customs when you file your tax return if you’re using:
- estimated figures - your best guess when you can’t provide the actual figures
- provisional figures - your temporary estimated figures while you wait for actual figures (you’ll also need to submit actual figures when available)
For a small fixed fee each year, we will not only prepare your tax return we will also be available to guide you through everything and answer any questions you may have. We will ensure you remain on the right side of HM Revenue & Customs at all times!
We have prepared the following tax guides specifically for Tutors and the self-employed. Click on the links to read more:
Tax Guides for Tutors (subscribers only)
Need help with anything else?
There's more to us than just tax returns. Visit our website for details on our tax services: