Registering for self assessment deadline

fuzzzzy

I have only just realised that there is a deadline of 5 October to register for self assessment. I knew I would have to submit an online tax return before 31 January 2025 but had not been aware of the registration deadline.

I've just filled in the relevant form through government gateway. Does that count as having registered? Or is it only after I've received my UTR and the online account is set up?

I might not get my UTR for 10 working days so starting to worry I could be over the 5 October deadline before it is properly set up.

Has anyone received a penalty for failing to register in time?

EDIT: I'm a bit confused now as I realise I already have a personal tax account and a UTR. I've just gone into it and requested a self assessment activation code which I am told will arrive within 10 working days.

Dazed_and_C0nfused

fuzzzzy said:

I have only just realised that there is a deadline of 5 October to register for self assessment. I knew I would have to submit an online tax return before 31 January 2025 but had not been aware of the registration deadline.

I've just filled in the relevant form through government gateway. Does that count as having registered? Or is it only after I've received my UTR and the online account is set up?

I might not get my UTR for 10 working days so starting to worry I could be over the 5 October deadline before it is properly set up.

Has anyone received a penalty for failing to register in time?

EDIT: I'm a bit confused now as I realise I already have a personal tax account and a UTR. I've just gone into it and requested a self assessment activation code which I am told will arrive within 10 working days.

You are massively overthinking this.

If you have taken the necessary steps to get a 2023-24 tax return issued then that is all you need to do.

When HMRC issue the return (or notice to file a return) you will have 3 months to complete and file the return.

You always get a minimum of 3 months to file the return once it (or the notice to file one) is issued.

However, if that means the filing deadline is a bit later than 31 January you should ensure any tax owed is paid by 31 January to ensure you don't get charged late payment interest.

fuzzzzy

Ok thanks. Panic over.

The only prior experience I have of self assessment is completing tax returns for my deceased father, which turned into a bit of a Kafkaesque nightmare with HMRC charging escalating penalties on missing a deadline on a return that they never asked us to file. 

poppystar

I had the same panic this morning when the Saga email arrived saying you had to register for self assessment by 5th October. I hadn’t seen that before and expected they would send me something to ask me to register once they had the information from the savings institutions.

Should I be doing something before the end of next week or should I wait for contact from HMRC. Don’t want to be fined for missing this deadline if I should be being more proactive! Thanks for any help @Dazed_and_C0nfused 🙂

Albermarle

poppystar said:

I had the same panic this morning when the Saga email arrived saying you had to register for self assessment by 5th October. I hadn’t seen that before and expected they would send me something to ask me to register once they had the information from the savings institutions.

Should I be doing something before the end of next week or should I wait for contact from HMRC. Don’t want to be fined for missing this deadline if I should be being more proactive! Thanks for any help @Dazed_and_C0nfused 🙂

Why would Saga ask you to fill in a self assessment tax return?

Dazed_and_C0nfused

Albermarle said:

poppystar said:

I had the same panic this morning when the Saga email arrived saying you had to register for self assessment by 5th October. I hadn’t seen that before and expected they would send me something to ask me to register once they had the information from the savings institutions.

Should I be doing something before the end of next week or should I wait for contact from HMRC. Don’t want to be fined for missing this deadline if I should be being more proactive! Thanks for any help @Dazed_and_C0nfused 🙂

Why would Saga ask you to fill in a self assessment tax return?

I wonder if it was a personal finance article?

poppystar

Albermarle said:

poppystar said:

I had the same panic this morning when the Saga email arrived saying you had to register for self assessment by 5th October. I hadn’t seen that before and expected they would send me something to ask me to register once they had the information from the savings institutions.

Should I be doing something before the end of next week or should I wait for contact from HMRC. Don’t want to be fined for missing this deadline if I should be being more proactive! Thanks for any help @Dazed_and_C0nfused 🙂

Why would Saga ask you to fill in a self assessment tax return?

Saga didn’t - it was an article giving HMRC deadline advice and outlining the penalties/fines for missing key dates in registering and paying. Quite useful actually for those of us who have only ever previously been PAYE. 

Albermarle

poppystar said:

Albermarle said:

poppystar said:

I had the same panic this morning when the Saga email arrived saying you had to register for self assessment by 5th October. I hadn’t seen that before and expected they would send me something to ask me to register once they had the information from the savings institutions.

Should I be doing something before the end of next week or should I wait for contact from HMRC. Don’t want to be fined for missing this deadline if I should be being more proactive! Thanks for any help @Dazed_and_C0nfused 🙂

Why would Saga ask you to fill in a self assessment tax return?

Saga didn’t - it was an article giving HMRC deadline advice and outlining the penalties/fines for missing key dates in registering and paying. Quite useful actually for those of us who have only ever previously been PAYE. 

I was only asking because most people do not have to do a self assessment return at all. 

poppystar

Albermarle said:

poppystar said:

Albermarle said:

poppystar said:

I had the same panic this morning when the Saga email arrived saying you had to register for self assessment by 5th October. I hadn’t seen that before and expected they would send me something to ask me to register once they had the information from the savings institutions.

Should I be doing something before the end of next week or should I wait for contact from HMRC. Don’t want to be fined for missing this deadline if I should be being more proactive! Thanks for any help @Dazed_and_C0nfused 🙂

Why would Saga ask you to fill in a self assessment tax return?

Saga didn’t - it was an article giving HMRC deadline advice and outlining the penalties/fines for missing key dates in registering and paying. Quite useful actually for those of us who have only ever previously been PAYE. 

I was only asking because most people do not have to do a self assessment return at all. 

I think with the hike in interest rates they expect a fair few people will be pushed into self assessment due to savings interest and therefore may not have been aware of deadlines. I certainly had picked up the pay by January but not the October 5th deadline. 

Albermarle

poppystar said:

Albermarle said:

poppystar said:

Albermarle said:

poppystar said:

I had the same panic this morning when the Saga email arrived saying you had to register for self assessment by 5th October. I hadn’t seen that before and expected they would send me something to ask me to register once they had the information from the savings institutions.

Should I be doing something before the end of next week or should I wait for contact from HMRC. Don’t want to be fined for missing this deadline if I should be being more proactive! Thanks for any help @Dazed_and_C0nfused 🙂

Why would Saga ask you to fill in a self assessment tax return?

Saga didn’t - it was an article giving HMRC deadline advice and outlining the penalties/fines for missing key dates in registering and paying. Quite useful actually for those of us who have only ever previously been PAYE. 

I was only asking because most people do not have to do a self assessment return at all. 

I think with the hike in interest rates they expect a fair few people will be pushed into self assessment due to savings interest and therefore may not have been aware of deadlines. I certainly had picked up the pay by January but not the October 5th deadline. 

Could be, but to earn over £10K in interest, you would need to have at least £200K in cash savings, that were outside the cash ISA wrapper. Probably not a huge number of people in that position.

Sarahspangles

Albermarle said:

poppystar said:

I think with the hike in interest rates they expect a fair few people will be pushed into self assessment due to savings interest and therefore may not have been aware of deadlines. I certainly had picked up the pay by January but not the October 5th deadline. 

Could be, but to earn over £10K in interest, you would need to have at least £200K in cash savings, that were outside the cash ISA wrapper. Probably not a huge number of people in that position.

We are, it’s the sort of thing that can happen to anyone. Retirement with a PCLS in a similar timeframe to (sadly) a moderate sized inheritance. OH is definitely doing a tax return for this year, we’re waiting to see if HMRC think he already breached last year. I will next year, unless interest rates fall a bit more.

It’s just not possible to move cash into ISAs quickly enough. And that’s despite maxing out SIPP contributions in the final year that contains a pay slip. Not that doing an SA is too onerous.