[Avatar]

Self-assessment

11/03/2017 21:19:14
If you’re self-employed or in a partnership you also need to tell HMRC that you’ve started self-employment and register for Self Assessment so you can send them a tax return https://www.gov.uk/log-in-file-self-assessment-tax-return

The good news is that it’s really easy to register your business for tax. Most new businesses can use a simple one-step online registration process and set up an online HMRC account at the same time. register for Self Assessment.

You need to do this within 6 months of the end of the tax year in which you started.
• If you’re self-employed you’ll pay Income Tax and Class 2 and Class 4 National Insurance.

• To check what you might owe HMRC why not use the ready reckoner http://www.hmrc.gov.uk/tools/sa-ready-reckoner/calculator.htm

• Once you’ve registered for Self Assessment, The deadlines for paying your tax bill are:

- 31 January - for any tax you owe for the previous tax year (known as a balancing payment) and your first payment on account (‘Payment on Account’ is a tax payment made twice a year by self-employed people in order to spread the cost of the year’s tax. It’s calculated by looking at your previous year’s tax bill, and is due in two instalments).

- 31 July for your second payment on account
If you prefer to pay regularly throughout the year, you can use a budget payment plan.

You can find videos and webinars on self-assessment on Gov.uk https://www.gov.uk/government/news/webinars-and-videos-about-self-assessment

[Avatar]

Self-assessment

13/08/2017 12:53:57
I registered for Self Assessment in July of last year, as my Employer wanted a UTR number, before he would pay me any wages. At that time , I was attending college one day a week, as I was on an apprenticeship scheme. I completed my apprenticeship on 24th May this year. I have attempted to complete a Self Assessment tax return as requested, but am struggling to log in as I have forgotten the sign in details I initially registered with. Does this make me Self-Employed? Please help.
[Avatar]

Re:Self-assessment

14/08/2017 08:25:04
Thank you for your post, we have sent you a private message. So please check and respond accordingly
[Avatar]

Self-assessment

30/10/2017 09:57:59
Hi - I left full time employment from my employer at the end of September to run my own business. I believe I have registered correctly have received my unique number. Is there anything else I need to do to notify HMRC that I am no longer in employment with my previous employer?

Many thanks

Adam
[Avatar]

Re:Self-assessment

31/10/2017 16:47:55
Hi Adam,
Thank you for your post.
Your previous employer will let HMRC know that you are no longer employed by them.
Now that you have registered as self- employed, you will receive a notice to file your self- assessment tax return in April 2018. You can complete and send this online from April 2018 onwards. You should include your self-employed turnover(income) and expenses from September 2017 to 5th April 2018. The deadline date for sending this return online is 31st January 2019. You will need your P45 from your previous employer as you will need to complete the Employment page of the tax return with this information.
This link gives you further information on the self- assessment tax return https://www.gov.uk/self-assessment-tax-returns/sending-return
[Avatar]
  • gill.drinkald@sky.com
  • Joined: 31/10/2017 14:48:34
  • Messages: 4
  • Offline
  • View profile
  • Send message

Self-assessment

01/11/2017 08:32:29
I have an online account through which I send my husband's VAT and CIS returns. I now want to start submitting his self assessment returns online previously done by an accountant.

Do I need to register all over again? Ideally I'd like to keep my one existing HMRC login ID. Advice please?

Thank you
[Avatar]

Self-assessment

01/11/2017 10:01:31
Hi,
You should be able to add the service to the existing account - follow this link for help...

https://www.gov.uk/log-in-register-hmrc-online-services

Regards and thanks