Registering for Self Assessment is an essential requirement for people with an untaxed income.
HM Revenue and Customs (HMRC) is reminding anyone who is new to Self Assessment for the 2022 to 2023 tax year that they have until 5 October to tell HMRC and register.
New Self Assessment customers could be someone who has set up a side hustle to earn money in addition to their PAYE job or disposed of cryptoassets; they may be newly self-employed or a new landlord renting out property. Whatever the circumstances, if a customer has any income that they have not already paid UK tax on, they need to register for Self Assessment.
Customers can use HMRC’s online checking tool on GOV.UK to quickly assess whether they will need to complete a tax return. And they can use the step-by-step guide to check what they need to do to file their first Self Assessment tax return.
The deadline for customers to file their tax return online and pay any tax owed for the 2022 to 2023 tax year is 31 January 2024.
For further information please select the following link It’s time to register for Self Assessment, says HMRC - GOV.UK (www.gov.uk)