Basic HMRC self assessment Tax deductions and reliefs
Here are some basic tax deductions and reliefs that will show on your self-assessment tax return:
Every taxpayer is entitled to a certain amount of tax-free income each year, known as the Personal Allowance. For the 2022/23 tax year, the Personal Allowance is £12,570.
If you are self-employed, you can claim tax relief on certain business expenses
If you are self-employed and make a loss in a tax year, you can offset this loss against your other income or carry it forward to future tax years.
If you make contributions to a registered pension scheme, you can claim tax relief on these contributions. The amount of tax relief you can claim depends on your marginal tax rate.
If you make donations to registered charities, you can claim tax relief on these donations. The amount of tax relief you can claim depends on your marginal tax rate.
If you are married or in a civil partnership, and one of you earns less than the Personal Allowance, the other partner may be able to transfer up to 10% of their unused Personal Allowance to the lower-earning partner.