Self Employment Tax Guide
Contents
- Bookkeeping
- Allowable expenses
- Self Assessment – Register as Self Employed
- Self Assessment – Filing and payment regime
- Self Assessment – Penalty and late payment regime
- National Insurance
- VAT
- Commercial considerations
Self Assessment – Filing and payment regime
HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline (detailed below).
| Self Assessment | Deadline |
|---|---|
| By midnight of: | |
| Register for Self Assessment if you’re self-employed or a sole trader, not self-employed, or registering a partner or partnership | 5 October (following the end of the tax year) |
| Paper tax returns | 31 October (following the end of the tax year) |
| Online tax returns | 31 January (following the end of the tax year) |
| Pay the tax you owe | 31 January (following the end of the tax year) |
There’s an additional payment deadline of 31st July if you make advance payments towards your bill (known as ‘payments on account’).
You’ll usually pay a penalty if your return is filed late or the payment is made late. You can appeal against a penalty if you have a reasonable excuse.
When the deadline is different
Submit your online return by 30th December if you want HMRC to automatically collect tax you owe from your wages and pension. You must be eligible.
HMRC must receive a paper tax return by 31 January if you’re a trustee of a registered pension scheme or a non-resident company. You can’t send a return online.
