The first deadline of the current tax year is fast approaching. If it’s your business’s second tax year and you’re registering for Self-Assessment, you must do so by this Friday, October 5th, or face a potential financial penalty.
Here are some quick to-dos for Self-Assessment registration, whatever your circumstances.
If you’re registering as a self-employed person:
If you’re self-employed and need to send a tax return, but did not send one last year, you must register for both Self-Assessment and Class 2 National Insurance. Register online and …
- If you’ve sent a tax return before, you’ll need to locate your 10-digit Unique Taxpayer Reference (UTR) from when you previously signed up for Self-Assessment. If you’ve registered for the online service in the past, you should use the same account this time round.
- If, however, you haven’t sent a return before, you’ll be sent a letter with your UTR and be enrolled for the Self-Assessment online service, simultaneously. You will also receive an activation code within 10 working days (or 21 if you’re overseas), which you’ll need when you first log in to your account.
If you’re registering as a non-self-employed person:
It’s fairly similar for non-self-employed individuals. If you didn’t send a tax return last year but have to send one this time round, you also need to register for Self-Assessment. Register online and …
- If you’ve sent a return before, use the same UTR as last time. Once you’ve registered, sign in to the online account that you set up previously and file your tax return.
- If you’re not self-employed and you’ve never sent a tax return, you’ll get a letter within 10 working days of registering online (21, if abroad), containing your UTR. Upon receiving your letter, simply create an account and use your UTR to enrol for the online service. Then, within 10 (21) days, you’ll receive an activation code, which you can use to sign into your online account and file your tax return.
Finally, if you’re registering as a partner / partnership:
You must register for Self-Assessment if you’re a partner in a ‘partnership’. To do so, you will require your partnership’s Unique, 10-digit Taxpayer Reference. You must also register if you’re the ‘nominated partner’. There are a number of ways to register your partnership, whether you’re a company, trust, or limited liability partnership.
Register now, before it’s too late!
So, to register or file your tax return today, visit the HMRC website, or click here if you’ve lost or misplaced your UTR. Activation codes can also be replaced if lost or undelivered. Remember, it pays to be prepared if you’re not prepared to pay a penalty; make sure you register by this Friday.
For more support and information on Self-Assessment, and beating this week’s tax deadline, contact Danbro today on 01253 600 150 and one of our expert advisors will be happy to help you.
Sam Wright is Danbro’s Marketing Manager. He produces regular content and feature articles on our digital and non-digital channels – and social platforms – for the Danbro Group and its subsidiaries, as well as having responsibility for the Company’s internal and external communications.
His background is in Journalism and Creative Writing, having previously contributed to publications such as The Daily Post, The Lancashire Evening Post, and The Blackpool Gazette.
He is a keen swimmer and avid Manchester United fan (but don’t hold that against him), and he lives in Lancashire with his wife, Sarah.