Pixabay/Steve Buissinne
28 September 2020
HM Revenue and Customs (HMRC) has shared a reminder for self-employed individuals to register for self-assessment.
The HMRC has reminded customers that anyone submitting a self-assessment tax return for the first time needs to register by 5 October so they can complete their return and pay any tax owed by 31 January 2021.
Individuals who are unsure whether they need to complete a self-assessment tax return can visit the Government website to check.
Individuals who need to complete a tax return include those who are self-employed sole traders, along with individuals who have received more than £2500 in other untaxed income (such as from tips or commission), employees claiming expenses in excess of £2500 and those who have an annual income over £100,000.
Also included are individuals who have earned more than £2500 from renting out property, who have earned income from abroad that they need to pay tax on, or people who have received (or their partner received) Child Benefit and either of them had an annual income of more than £50,000.
Anyone who is new to the process of submitting a self-assessment tax return, or would like support to help fill and file their returns, can visit HMRC for online webchats, live webinars, YouTube videos and social media support.
The HMRC has reminded customers that anyone submitting a self-assessment tax return for the first time needs to register by 5 October so they can complete their return and pay any tax owed by 31 January 2021.
Individuals who are unsure whether they need to complete a self-assessment tax return can visit the Government website to check.
Individuals who need to complete a tax return include those who are self-employed sole traders, along with individuals who have received more than £2500 in other untaxed income (such as from tips or commission), employees claiming expenses in excess of £2500 and those who have an annual income over £100,000.
Also included are individuals who have earned more than £2500 from renting out property, who have earned income from abroad that they need to pay tax on, or people who have received (or their partner received) Child Benefit and either of them had an annual income of more than £50,000.
Anyone who is new to the process of submitting a self-assessment tax return, or would like support to help fill and file their returns, can visit HMRC for online webchats, live webinars, YouTube videos and social media support.
Comments (0)
You must be logged in to join the discussion. Log in