New freelancers have until Friday to register
Freelancers who are preparing to submit a self-assessment tax return for the very first time have only until this Friday to register.
Issuing the reminder about the October 5th deadline, HMRC said there were as many as eight different factors that make a tax return for 2017-2018 necessary, including being newly self-employed.
The other seven, each also requiring people to register before Friday so that they can complete a tax return by January 31st 2019, are:
1. You earned more than £2,500 from renting out property
2. You or your partner received Child Benefit and either of you have an annual income of more than £50,000
3. You received more than £2,500 in other untaxed income, for example from tips or commission
4. You are a limited company director
5. You are a limited company shareholder
6. You are an employee claiming expenses in excess of £2,500
7. You have an annual income over £100,000
“January may seem a long time away, but if you’ve not done self-assessment before and you’re now required to, you need to register,” said HMRC's director-general of customer services Angela MacDonald.
“Some customers don’t always realise they need to do self-assessment, like those who earn more than £50,000 and receive Child Benefit, so please check if this applies to you.”
2nd October 2018