HMRC Self assessment 2021

Dazed_and_C0nfused

UtopiaNomad said:

Hi I submitted by 20/21 self-assessment today, was wondering how long it takes to appear on my HMRC online account.

I'd have a look on Monday.

jamesieboi46

FINALLY ISSUED TODAY!!! 2 complaints deep and got there eventually !!!!!! take waiting that long especially getting told I would have to wait for an ID letter 

Sarahrees892

Yaaay that's good news hopefully it won't be so painful for us all next year 😊

jamesieboi46

Sarahrees892 said:

Yaaay that's good news hopefully it won't be so painful for us all next year 😊

How long was it before money was in the bank?

Sarahrees892

Mine switched to issued on the Friday was in the bank Monday morning 

jrh22542254

Completed my paper form a week ago. How long before I get my tax refund due? Thanks.

mummy2threeboys

Good evening, i'm almost there with Self employment, and looking through webinars, videos etc.
Have I got this right?
The deadline for sending off the self-assessment is Jan 31st?
The tax year runs from 6th to the 5th of April the following year, 
So if I Started say September this year I calculate from September until Jan? Then after that from Jan until 5th April? 
Thanks I'm sure I've missed something, this is the only thing I'm not understanding. Many thanks

[Deleted User]

mummy2threeboys said:

Good evening, i'm almost there with Self employment, and looking through webinars, videos etc.
Have I got this right?
The deadline for sending off the self-assessment is Jan 31st?
The tax year runs from 6th to the 5th of April the following year, 
So if I Started say September this year I calculate from September until Jan? Then after that from Jan until 5th April? 
Thanks I'm sure I've missed something, this is the only thing I'm not understanding. Many thanks

Sorry - you are totally mixed up with this and, with respect, you don’t appear to have a grasp of this at all.

If you start in September 2021 your first tax return is for 2021/22 tax year. (You do not have to submit any return by 31st January 2022). You must include ALL income earned from whatever source from 6th April 2021 to 5th April 2022. This must be submitted by 31st January 2023. You are also required to notify HMRC of your self employment by 5th October 2022. Your first accounting period is from September 2021 to 5th April 2022.

Your second accounting period, should you choose to make up your books to 5th April each year( you can choose any period) will be from 6th April 2022 to 5th April 2023. That will be declared on the 2022/23 tax return to be submitted by 31st January 2024.

Given your current understanding may I suggest that you engage an accountant to get you through the first year? You can then review the position. That would put you in a better position than if you submitted a return with entirely the wrong information for the wrong period.

mummy2threeboys

Thanks, no I understand perfectly, now. I watched a lot of HMRC videos and webinars, it wasn't my understanding as such it was the explanation of various different sources.

Dribiddi

When you are doing the self assessment if you have another job that you pay normal taxes on, in self assessment do I include just income tax or Nat insurance as well on the tax deductions from main income?