The Ultimate Self Assessment Guide
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If you’re self-employed and registered for Self Assessment with HM Revenue & Customs (HMRC), you must submit your online Tax Return to HMRC by midnight on 31st January.
If you do this any later, you’ll automatically be charged a £100 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 also takes up to 7 working days to set up an online account because HMRC posts you an ‘activation code’ which you need to activate your account. It can take up to 21 days if you’re setting up your account from abroad.
More advice from Sage
Self-assessment is here! Read Jonathan Wingfield, of Ensors Chartered Accountants, advice on self-assessment for self-employed business owners
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