The Self-Assessment return is the tax return that you must complete each year when you are self-employed in the UK.
You can either request that His Majesty’s Revenue and Customs (“HMRC”) calculates the tax and National Insurance (“NI”) contributions due (but note the earlier deadline below) or Moore Dixon Consulting Limited (MSCL), as your accountant, can calculate the amounts due based on the profits of your business.
Important dates
6 April – start of the new tax year.
5 April – end of the tax year.
Tax return deadlines and penalties
| 31 October | Submission of paper self-assessment return and have HMRC calculate the amounts due |
| 31 January | Submission of online self- assessment return |
| 31 January | Balancing payment and the first payment on account in respect of Income Tax and Class 4 NI |
| 31 July | Second payment on the account due |
Example:
For the tax year to 5 April 2022:
31 October 2022 – submission of the paper self-assessment return and for HMRC to calculate the payment OR
31 January 2023 – submission of your online self-assessment return and first payment on account, plus balancing payment for the previous tax year.
31 July 2023 – second payment on account due
Please note that if you have engaged with Moore Dixon Consulting Limited we will submit your tax return online and therefore the 31 January date applies. We will also be responsible for advising you of your tax liability and payments on account due.
Your tax return must reach HMRC by midnight on 31 January or there will be a £100 penalty. The later your return is received, the more penalties you’re likely to incur.
Find out more about tax return deadlines and penalties here
