The Deadline
If you need to complete a Self Assessment tax return for the first time, you must tell HMRC by 5th October following the end of the tax year.
Who must send a tax return?
You must send a tax return if in the last tax year you:
- were self-employed (as a sole trader) and earned more than £1,000
- were a partner in a business partnership
- had to pay capital gains tax
- had to pay the high income child benefit charge (except through PAYE).
- were an off-payroll worker (repaying a student/postgraduate loan).
You may also need to send a tax return if you have any untaxed income including rental income, tips/commission, savings interest, dividend/investment income, foreign income, and taxable UK income (while being a non-UK resident).
Unique Taxpayer Reference (UTR)
Registering by 5th October is important because HMRC will issue your Unique Taxpayer Reference (UTR), which you need before you can submit your tax return. Registering early also gives you more time to prepare for the filing and payment deadline of 31st January.
What happens if I miss the deadline?
If you miss the 5th October deadline, you may face penalties and could have less time to complete your return. Even if you register late, any tax due must still be paid by 31st January to avoid further penalties and interest charges.
If you still need to register and are looking for support, please get in touch with our team via the contact us form.