| HM Revenue and Customs (HMRC) is reminding anyone who is new to Self Assessment for the 2022 to 2023 tax year that they have just 2 weeks 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. If customers think they no longer need to complete a Self Assessment tax return for the 2022 to 2023 tax year, they should tell HMRC before the deadline on 31 January 2024 to avoid any penalties or needing to complete a tax return. HMRC has produced 2 videos explaining how customers can go online and stop Self Assessment if they are self-employed and those who are not self-employed. Still Unsure don’t Hesitate to give PMB Taxation a call on 01355 267555, Our Friendly staff are here to help. |
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