Running a business requires a lot of planning and there are a number of key dates people who are self-employed need to be aware of. The start of the new tax year is particularly important to note. The 2021 to 2022 tax year started on Tuesday, April 6, 2021.
When is the deadline to register for Self Assessment?
Now the new tax year has begun, anyone who needs to register for Self Assessment must do so by the deadline of October 5, 2021.
Once someone has registered for Self Assessment, they will be contacted with a Unique Taxpayer Reference (UTR).
Self Assessment forms can then be submitted online via the Government Gateway account system.
READ MORE: Premium Bonds: Have you won in the April 2021 draw? NS&I prize checker
What happens when you’ve filed a tax return?
Once a tax return has been filed, HMRC will send the person a bill.
The bill will be sent by post if the tax return was filed via paper format.
When filing a tax return online, the bill can be viewed online via the ‘view your calculation’ section of the return.
The bill can also be viewed in the final tax calculation, which can take up to 72 hours to show following submission of the tax return.