5TH OCTOBER 2021: DEADLINE TO REGISTER FOR SELF ASSESSMENT
5th October 2021 marks the date you need to register for Self-Assessment. There are three ways to do this depending on whether you are:
- Self-employed (first time submitting)
- Self-employed (previously submitted)
- Not self-employed
If you’re now self-employed and you’ve never submitted a Self-Assessment before, you’ll first need to register. Upon receiving your registration, HMRC will send you a letter with your 10-digit Unique Taxpayer Reference number on, which will allow you to set up your account for the online service.
Once filed, HMRC will be able to determine your Income Tax rate and National Insurance due.
For those that are self-employed and have previously submitted a Self-Assessment tax return; you will need to fill out a CWF1 form.
For those who are not self-employed and have earnings outside of PAYE, the form you need to complete is your SA1 form, which identifies that you have income that needs to be taxed. This extends to any of the following sources of income:
- Income from employment
- Income from pensions
- Interests from savings
- Rental income
- Employment benefits
- Income from a trust
31ST OCTOBER 2021: PAPER SELF ASSESSMENT TAX RETURN DEADLINE
While perhaps an outdated form of submission, even today, a significant number of UK taxpayers still file Self-Assessment tax returns via paper and postage.
The deadline for this method, however, is three months earlier than online. This means that, should you miss the deadline to submit via paper, you have a second chance in the form of filing digitally.
It’s also worth noting that physical submissions are set to be gradually phased out; so let ANY Accounting and Bookkeeping Services help you to get to grips with digital sooner rather than later.
If you’re needing help with registering or submitting your return by post, contact us today or check out our Facebook page for more finance news!
