HMRC have today, 15 August, urged taxpayers to turn to their online self-assessment tax return tool to avoid lengthy delays using their telephone helpline. The tool can be found here.
The tool seeks to answer a number of questions that taxpayers may have around self-assessment as follows:
There are a number of reasons why taxpayers would need to submit a self-assessment tax return, even if they are within their employers’ PAYE scheme. For example, you may have had a change in circumstances, or are now earning income from an additional source.
Taxpayers may need to complete a tax return if they:
You can file your tax return for the previous financial year at any time, you don’t need to wait until 31 January to do so, although those who are completing self-assessment for the first time need to register with HMRC no later than 5 October 2023 to file for 2022/2023.
The self-assessment tax return tool can also be used to check this. If you find that you no longer need to file a self-assessment tax return you should tell HMRC before the 31 January deadline to avoid a potential penalty.
If you think you need to complete a self-assessment tax return for the first time, taxpayers can register for self-assessment on GOV.UK, which will generate your Unique Taxpayer Reference, which will be needed when completing your tax return.
If we can help you with any aspect of your self-assessment then you shouldn’t hesitate to contact our dedicated personal tax team.