Register For Self Assessment By October 5th 2016

At the end of the present tax year you will need to do a tax return, this needs to be registered before October 5th. Tax years run from 6th April through to 5th April the following year. Registering late, or complete failure to register at all prior to this time will not necessarily result in a penalty- as long as you ensure to pay your Self Assessment bill in full by the deadline.

The registration process for Self Assessment can take as long as 20 working days to complete. Additionally, time should be allowed to send the tax return in order to ensure the deadline is met. The deadline is 31st January, or 31st October in the case of paper returns.

Once you have successfully registered for Self Assessment, you will be provided with a Unique Taxpayer Reference (UTR).

If you are self-employed there are two options in terms of how you register, these are as a sole trader or as a partnership or partner, respectively. If you are a company director you will need to register as an individual.

Sole Trader:

In order to be a sole trader, you have chosen to work for yourself and have not selected another business structure. For Self Assessment you must register as a Sole Trader.

Partners:

In order to successfully register as a partner, you will be required to provide the partnership’s 10-digit Unique Taxpayer Reference (UTR). The UTR can be found on previous tax returns or other documents provided by HMRC.

Partnerships:

If you are the “nominated partner”, then you are required to register yourself and the business partnership. This can be accomplished in a number of forms:

• In the case of limited liability partnerships.
• In the case of registration of a partner that is not an individual, in the cases of companies or trusts.

If You Are Not Self Employed:

The registration process can take up to 20 working days. In order to register you will be require to fill in form SA1, this informs HMRC that you need to send a tax return. Within 10 working days you will receive a Unique Taxpayer Reference in the post, this will be required to send a paper tax return or to enrol to send it online.

For further information about the process of registering for Self Assessment, a member of our customer service team can be contacted by calling: 0161 434 3535.