Not just for the Self Employed, there are a number of reasons why you may need to complete and submit a tax return. Check our post on Who must submit a tax return to see who does. If you do need to, here’s how to register for Self Assessment tax.
How to Register for Self Assessment if you’re self-employed
If you have to send a tax return and didn’t last year, you need to register for both:
- Self Assessment, and;
- Class 2 National Insurance
Register by the 5th of October in your business’s second tax year. You could be fined if you don’t.
You can file your tax return any time before the deadline.
How you register depends on whether you’ve registered before or not.
How to Register for Self Assessment If it’s your first time registering
Register through your business tax account for Self Assessment and Class 2 National Insurance.
You’ll need a Government Gateway user ID and password to sign in. If you don’t have a user ID, you’ll be able to create one and will get your Unique Taxpayer Reference (UTR) by post in 10 working days. Or 21 days if you’re abroad. But you’ll get it sooner in your personal tax account or HMRC app.
You’ll get a reminder letter or email telling you to complete a Self Assessment tax return before it’s due.
How to Register for Self Assessment If you’ve registered before (but did not send a return last year)
If you need to file a tax return, you’ll get a reminder letter or email telling you to complete one before it’s due.
Register online using form CWF1 for Self Assessment and Class 2 National Insurance.
You’ll need your 10-digit Unique Taxpayer Reference (UTR) from when you registered before. You can find your UTR if you do not know it.
If you can’t register using the online service
Register for Self Assessment and Class 2 National Insurance by filling in the form online. Print and post it to HMRC.
You’ll need to have all your information ready as you can’t save a partly completed form.
After you’ve registered, you’ll receive a letter with your Unique Taxpayer Reference (UTR) number within 10 working days (21 if you’re abroad).
Register if you’re a partner or partnership
You must register for Self Assessment by the 5th of October if you’re a partner in a partnership and will need your partnership’s 10-digit Unique Taxpayer Reference (UTR).
If you’ve lost it, you can find a UTR here.
You must also register your partnership if you’re the ‘nominated partner’.
There are different ways to register:
- for limited liability partnerships
- if you’re a partner that’s not an individual, for example a company or a trust
Help with registering for Self Assessment Tax
Contact us now if you need help with this or any other aspect of your Self Assessment Tax.
Or just email us if you want our:
- New Business Start-up Checklist, or;
- Business Plan Template, or;
- Help with
Achieving Success with your business
If you’re just starting your new business venture or struggling with the steps to the next level contact us now.
We can help you with this and much more
Get ready for success with Moore Financial Management
We can help you with all of your compliance obligations such as:
- Self Assessment Tax
- Making Tax Digital
- Corporation Tax
- Filing Accounts
- Payroll and Pensions
But also the things you really need to increase the chances of your business being a success
- Management Accounts
- Cashflow Reporting & Forecasting
- Real Time up to the minute information
These are the things that add value and the information you need in order to make the correct business decisions
If you’re not confident with any of this or don’t have the time, getting a licensed accountant to do it for you can actually save you money. It can free up your valuable time which you can use to concentrate on your business. You can also benefit by knowing it has been done correctly and on time.
Mistakes can be costly.
As can missing deadlines.
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