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Sales dates for self assessment

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I sold £4k on ebay from Jan 1st 2023 to Jan 1st 2024. 
I will be filing a self assessment to be submitted by Jan 31st 2024.
Is Jan 1st 2023 to Jan 1st 2024 the period that my self assessment covers?

Comments

  • Ayr_Rage
    Ayr_Rage Posts: 2,676 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    edited 5 January 2024 at 2:05PM
    Tax years are from April 6th until the following April 5th, not calendar years. 

    If you are about to file a SA form this will be for the tax year April 6th 2022 to April 5th 2023 and it needs to be filed AND the tax paid by the 31st of this month.

    Anything after April 6th 2023 will go on your next return.
  • se2020
    se2020 Posts: 549 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    Anything between April 2022 and April 2023 will need to be submitted by 31 Jan 2024.

    Income from the 6th April 2023 will go on the return to be submitted by 31 Jan 2025.

    You can put all the income from April 23 until now on this return if you like but the only reason you would do that is if you have stopped trading and don't want to have to do a return again next year.

    You will be asked for an "accounting period" when you submit the return. 
    If you have not previously done a return it makes sense to make your accounting period 6th April-5th April to match the tax year rather than follow the calendar year.

    So, you will submit part of a year the first time.
    Then a full year of accounts each year after.
    Then a final part year in your last year of trading.
  • se2020
    se2020 Posts: 549 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    Also, 31st Jan is the deadline.
    You can submit any time from 6th April.
    So you could do one now covering Jan 22 to April 23.
    Then another in April 24 covering April 23 to April 24
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