If you’re self-employed and registered for Self-Assessment with HM Revenue & Customs (HMRC), you must submit your online Tax Return to HMRC. The deadline for your submission is midnight on 31st January.
If you do this any later, you’ll automatically be charged a late filing penalty. Even if you don’t have any tax to pay or have already paid what you owe to HMRC so it’s really not worth putting it off!
It takes up to 7 working days to set up an online account because HMRC posts you an ‘activation code’. It’s worth remembering that it can take up to 21 days if you’re setting up your account from abroad.
How can Sage help?
Before you submit your Self-Assessment Tax Return online, our handy free Sage One Guide to Tax Returns. It explains what you can claim as ‘Allowable Expenses’ to help get your tax bill down.