There are many reason why you might need to register and complete a Self-Assessment Tax Return, including;
- Self-employed sole traders earning more than £1,000
- Directors of limited companies
- Partners of both general and limited liability partnerships
- Individuals who receive rental income
- Individuals earning more than £100,000 a year
The deadline for registering for Self–Assessment is the 5th October after the end of the relevant tax year. So if you met the registration criteria during the tax year 2018/19 (6th April 2018 – 5th April 2019) you have until the 5th October 2019 to register with HMRC.
Your 2018/19 tax return will then be due by the 31st October 2019 if being submitted on paper or alternatively by the 31st January 2020 if being submitted online. Any tax or national insurance due will be payable by the 31st January 2020.
Failure to register on time could result in you being fined!
If you are unsure whether or not you need to register for self-assessment or need help completing your tax return then we can help. Please contact us via email firstname.lastname@example.org or call us on 01324 441250.