With the tax return deadline just some months away, there are probably thousands of business owners desperately trying to gather all their receipts and expenses together, ready to submit on 31st October for paper returns and 31st January for online tax returns.
If you’re looking to submit a tax return for the first time, you’ll need to register for self-assessment first at Her Majesty’s Revenue and Customs website (HMRC)
📌 The process will vary depending on whether you’re self-employed, registering a partnership or not self-employed – you should click on the option that applies to you.
📌 You can register online via HMRC
📌 Get your Unique Taxpayer Reference (UTR) number: HMRC will send this to you in a letter after you register
📌 The letter will give instructions on how to set up your Government Gateway account
📌 Use your activation code for your Government Gateway account: Once this is done, you’ll be sent another letter in the post containing your activation code
📌 You’ll need this to complete the set-up of your account – you should do this promptly as the code will expire
📌 Complete your account setup: It’s only once your Government Gateway account is up and running that you’ll be able to log in and submit your tax return
HMRC warns that the whole process could take up to 14 to 20 working days, so make sure you don’t leave it until the last minute.
If you are unable to do your self-tax return please book a consultation with us. We will be delighted to assist you to ensure you file your tax returns the right way to avoid unnecessary penalties.