How to successfully file your tax return
Who needs to register as self-employed?
- Self employed/freelancers
- If your savings and investments are £10,000 or more (before tax)
- If you have property income which is £2,500 or more
- Dividends of £10,000 or more (before tax)
- If you’re a company director
- If you’re a partner in a partnership
If you are self-employed or a freelancer you need to make sure you check the following things before you start filing:
- Check that you’re registered for Self-Assessment with the HMRC for tax which normally takes 20 days
- Check the Tax year end
- Check the Start and end date or financial year end which covers the tax year from 6th of April 2018 to 5th April 2019
- Check the deadlines for filing your account. For example, for the year end 2018 the last day for online filing is 31st of 2019.
- Make sure all the tax payable is paid to HMRC before the 31st of January of the following year
- Make sure that you have enough funds to cover your taxes
