What this guide covers
Annual adjustments sit above the quarterly cashbook. Keep each business separate and refresh its HMRC summary whenever later submissions make an earlier calculation out of date.
1. Choose the business and tax year
Open Filing, select the relevant tax year, and choose the self-employment or UK property business. Allowances and adjustable summaries are held separately for each business.
Open Filing2. Review annual allowances and adjustments
Enter only the annual figures that apply to the selected business and check the descriptions carefully. These are not a replacement for transaction categories and may require professional judgement.
Manage annual figures3. Trigger the HMRC profit summary
Use the Business Source Adjustable Summary area to request the latest HMRC calculation for the business. Review its income, expenses, additions, deductions, and resulting profit or loss.
Open profit summaries4. Resolve an out-of-date summary
A later quarterly or annual change can make a previous adjusted summary stale. Re-trigger the summary, recheck the figures, and submit a new adjustment only when one is genuinely required.
Review the year-end flowBefore you move on
- The correct business and tax year are selected
- Annual entries are supported by records or professional advice
- The HMRC profit summary reflects the latest submissions
- Stale adjustments were refreshed before final declaration
Put the guide into practice.
Open the relevant workspace and complete the next step with this guide available in another tab.
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