Self Assessment Tax Returns are used by HMRC to collect Income Tax. If tax is not deducted from any salary, pension or savings, taxpayers must file a tax return. Tax returns are always submitted in arrears. The UK tax year runs from 6th April to 5th April the following year.

You can file a tax return in one of two ways – submit it online or send in a completed paper form. The tax return must be sent by the deadline. If it is your first tax return, HMRC advise you to allow an extra 20 working days. This is because you’ll have to register before filing the return. The ways to register vary according to whether you are a sole trader, registering a partnership or are not self-employed. To fill in an accurate tax return, you must keep clear records such as invoices, receipts and bank statements.

Self Assessment deadlines

Registration deadline

The first deadline you may need to be aware of is the last possible date you can register with HMRC as a sole trader, partner or not self-employed, which is 5th October.

Paper tax return deadline

Those submitting a paper tax return form must get this to HMRC by midnight on the 30th October.

Online tax return deadline

An online tax return must be in by midnight on the 31st January.

Tax payment deadline

The deadline for paying the tax owed in also midnight on the 31st January.

Payments on account

If you pay some tax in advance – known as payment on account – a second deadline of 31st July applies.

Different deadlines

If you would like HMRC to deduct tax owed from a salary or pension, and you are eligible, you should submit your return online by 30th December.

Where you are a trustee of a non-resident company or registered pension scheme, you cannot submit an online return. In this case, the deadline is 31st January.

Sometimes, HMRC may contact you to issue a different deadline.

For those in a partnership, the dates also vary. For a partnership accounting date between 1st February and the end of the tax year, if one partner is a limited company, the deadline for a paper return is nine months after the accounting date. For an online return, this is 12 months from the accounting date.

If the deadline has passed

If you have missed the Self Assessment tax return deadline, you can still submit a return. You will, however, be subject to a penalty.

How to get help with Self Assessment

There is some introductory guidance on HMRC’s website. If you require further assistance regarding filing an accurate tax return and ensuring this is submitted by the right deadline, consult an accredited accountant.

Here at Adaptive Accountancy, we can help. As experienced professionals offering tax return services in the South Yorkshire area, you can trust us to make sure you pay no more tax than you have to. We can also ensure you avoid those costly penalties.