Last updated on 30 July 2026
The new Self Assessment Tax Return form is a redesigned version of the form used to report income and taxes to HMRC in the UK. In 2025, HMRC introduced updates to the form to make it clearer, more digital-friendly, and easier to use, particularly for individuals with complex income sources such as cryptocurrency, freelancing, or overseas earnings.
If you are a self-employed individual, a landlord, a crypto investor, or someone earning over £100,000, you likely need to file a Self-Assessment.
But many people feel overwhelmed by the process. That’s why it’s crucial to understand what’s changed and how to fill it in correctly.
Why Did HMRC Update the Self-Assessment Form?
HMRC has been working to modernise the UK tax system through its Making Tax Digital (MTD) initiative. The old form was often seen as too complex. It didn’t reflect new income sources like crypto assets, digital services, or side gigs from platforms like Etsy or Airbnb.
The updated form launched in 2025 is part of this modernisation effort. It aims to:
- Reduce errors.
- Offer more guidance.
- Be compatible with digital recordkeeping and third-party software.
- Make crypto and digital income reporting clearer.
The form is still split into sections, but HMRC has restructured the layout, reworded many questions, and added tooltips and help links. It now works more smoothly with cloud-based accounting software.
4 Key Changes in the 2025 Self-Assessment Form
Let’s look at what’s new or different:
1. Simpler Language and Layout
The updated form uses simpler language. It’s more user-friendly for people without a tax background. For example, the term “employment income” now includes a short description, so you don’t need to second-guess where to report your salary.
2. Dedicated Crypto Section
This is big news. There is now a separate section specifically for cryptoassets like Bitcoin, Ethereum, and NFTs. You can enter:
- Your crypto capital gains
- Income from staking or mining
- Airdrops or rewards
HMRC now expects more accurate crypto reporting due to increased data-sharing with exchanges.
If you sold Ethereum for £10,000 that you originally bought for £4,000, you now clearly report the £6,000 gain in the crypto section. No more confusion over which part of the form to use.
3. Improved Guidance and Error Checks
When you fill the form online, HMRC now gives prompts and error warnings in real time. If you enter a number that doesn’t make sense, for example, claiming £10,000 in expenses with only £2,000 in income, it flags it immediately.
This is a huge help for sole traders, landlords, or crypto investors who manage multiple income streams.
4. Better Integration with Accounting Software
If you use cloud software like Xero, QuickBooks, or a crypto tax tool, your data can now be imported directly into the form. This reduces mistakes and saves time.
This is especially useful for freelancers and Web3 professionals who earn across platforms.
Who Needs to Use the Self-Assessment Form?
Not everyone in the UK needs to fill out a Self-Assessment. But you must if:
- You’re self-employed or in a partnership.
- You’re a landlord earning over £1,000 a year from property.
- You earn over £100,000 a year.
- You have foreign income.
- You receive untaxed income (like dividends or crypto).
- HMRC has asked you to file one.
If you made a profit of £3,500 from trading crypto in 2024-25 and you’re above the capital gains tax allowance (£3,000 from April 2025), you must report that through Self Assessment.
Important Dates to Remember
- 6 April 2025: Start of the new tax year.
- 5 October 2025: Deadline to register for Self Assessment if it’s your first time.
- 31 October 2025: Deadline for paper returns (not recommended).
- 31 January 2026: Deadline for online returns and tax payment.
Late submissions can lead to automatic fines, even if you owe no tax.
Tips for Completing the New Form
- Keep good records. HMRC expects digital records, especially for crypto.
- Use software. For crypto or complex earnings, use tax software that integrates with HMRC’s system.
- Double-check figures. Don’t guess. Use actual figures from your wallets, payslips, or bookkeeping software.
- Report everything. HMRC is getting more data directly from platforms, especially crypto exchanges, so hiding income is risky.
Common Mistakes to Avoid
- Forgetting crypto. Even a single NFT sale can count.
- Mixing up capital gains and income. Selling crypto is not the same as earning crypto.
- Not claiming allowable expenses. Especially if you are self-employed or a landlord.
- Missing deadlines. Late filing penalties start at £100.
Make the Most of the New Form
The new Self Assessment Tax Return form is not just a redesign, it reflects the changing nature of work, income, and tax. Whether you’re a digital nomad, a crypto trader, or a traditional sole trader, the new layout and structure are designed to make your life easier.
But clarity doesn’t mean you can afford to be casual. The new form is smart, and HMRC is watching closely, especially when it comes to crypto and digital income. It’s easier to use, but also more precise.
If you are unsure how to handle your crypto earnings, staking rewards, or multi-source income, professional support can make all the difference.
Get Help With Your Self-Assessment Today
Crypto Accountants specialise in Self Assessment Tax Returns for individuals and businesses with complex income, from crypto to property to digital services.
We offer:
- Crypto capital gains calculations
- Income and expense reporting for self-employed and landlords
- Compliance checks and submission support
Book a consultation with Crypto Accountants and file your tax return with confidence.
People Also Ask
Do I need to report crypto if I didn’t sell any?
Not necessarily. If you only held crypto and didn’t sell, earn, or spend it, there may be nothing to report. But if you staked, mined, or received rewards, it counts as income.
Can I still file a paper return?
Yes, but it’s not recommended. Paper returns must be filed by 31 October. Online returns give you until 31 January and are easier to correct.
What happens if I make a mistake?
You can amend your Self Assessment within 12 months of the deadline. But deliberate errors or omissions can lead to fines and investigations.
