Work in Hospitality ? Check Your Self Assessment Registration Situation !
- HMRC -
The year is flying by and time is gradually running out for you to check if you need to submit a Self Assessment tax return for the 2022 to 2023 tax year .
If you need to register for the first time , you only have until 5 October 2023 to tell HM Revenue & Customs ( HMRC ).
Is there a way I can check whether I need to submit a Self Assessment tax return or not ?
There are various reasons which can affect whether or not you need to complete Self Assessment , so it ’ s understandable that you may not be completely sure .
Fortunately , HMRC has lots of help available . You can use the free online tool on GOV . UK , which is quick and easy to use , to check if you need to complete a tax return for the 6 April 2022 to 5 April 2023 tax year .
I ’ ve never submitted a Self Assessment before . Why would I need to now ?
There are many reasons why you might find that you need to complete a tax return for the first time . Some may be obvious :
• Starting work for yourself , so being newly selfemployed , and earning over £ 1,000
• Having multiple sources of income
• Receiving untaxed income , for example , in this digital age , creating online content and earning money from it
• Receiving income from a property that you own or rent out
Others may seem a little less obvious :
• Becoming a new partner in a business partnership
• Claiming Child Benefit when you , or your partner , earn more than £ 50,000 a year
• If you earn more than £ 100,000 a year
• If you receive interest from banks and building societies ( more than £ 10,000 )
• If you receive dividends in excess of £ 10,000
• If you need to pay Capital Gains Tax
• Or , if you are self-employed and earning less than £ 1,000 but you still want to pay Class 2 National Insurance Contributions ( NICs ) voluntarily to protect your entitlement to a State Pension and certain benefits
Your circumstances may have changed in a variety of ways since the last tax year , and it ’ s important to take a moment to consider if any of these might mean you have to complete Self Assessment . You can use the free online tool on GOV . UK to check if you need to do one .
Remember , even if you are paying taxes through PAYE in an employed role , you may still need to submit a tax return .
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