Started self employment need advice

bastionH

I just needed to clarify a question about self assessment tax,I just finished my first small freelance job last month and and plan to continue so will be registering for a UTR number but want to check this is correct - I register now and will need to file a return Oct 2020 - Jan 2021?

Dazed_and_confused

You must register by 5 October 2020. And file your first return by no later than 31 January 2021 (assuming HMRC have issued it by at least 3 months before 31 January 2021).

The deadline for a paper return is 31 October 2020 and online is 31 January 2021.

But there is no upside to waiting to register, best do it sooner rather than later and then you get notified in April 2020 that the return needs to be filed.

bastionH

Thanks will be registering asap. Next step is looking into tax return software vs paying someone to do it,any advice would be great.
Most of my payments will likely be through paypal so other than getting signed invoices does anyone know what other documentation might be needed to be kept?.

Dazed_and_confused

This might be of interest,

https://www.gov.uk/self-employed-records

If your affairs are straightforward software on gov.uk allows most people to file online for free. There is no doubt more sophisticated software available elsewhere but you might not need it straight off.

bastionH

Thanks again,wasn't aware they had free software but will check that out for sure.