Self Assessment, this year or next year?

Universal18

I am retired and receive a standard state pension, but on the 6th of march 2024 I started working full time self-employed through an agency. I am struggling to understand the online HMRC self-assessment system, and not sure if I need to submit a self-assessment for 2023 / 2024, as I started working on the 6th of March this year. Also, the agency paid 5 and sometimes 6 weeks in arrears, meaning I had to wait until April 12th to get my first pay check. 

Wyndham

It goes on when you got payment, not when you did the work. As the payment went into the 2024/25 tax year you only had pension income for 2023/24. As such, you should not need to complete self assessment for 2023/24.

Dazed_and_C0nfused

But if you register as self employed using a start date of 6 March 2024 HMRC will no doubt require completion of a return for 2023-24.

TheSpectator

Wyndham said:

It goes on when you got payment, not when you did the work. As the payment went into the 2024/25 tax year you only had pension income for 2023/24. As such, you should not need to complete self assessment for 2023/24.

Not strictly true. Depends if using cash or accruals basis.

DullGreyGuy

Universal18 said:

I am retired and receive a standard state pension, but on the 6th of march 2024 I started working full time self-employed through an agency. I am struggling to understand the online HMRC self-assessment system, and not sure if I need to submit a self-assessment for 2023 / 2024, as I started working on the 6th of March this year. Also, the agency paid 5 and sometimes 6 weeks in arrears, meaning I had to wait until April 12th to get my first pay check. 

So on a cash basis you'd have nothing to declare for 2023/24 but HMRC may still ask you to do a self assessment but on an accrual basis you probably would have something to declare.

Universal18

Wyndham said:

It goes on when you got payment, not when you did the work. As the payment went into the 2024/25 tax year you only had pension income for 2023/24. As such, you should not need to complete self assessment for 2023/24.

I rang HMRC and had to wait 30 minutes before someone answered. You are correct, at least in my case and I will have to fill in a 2024/2025 self assessment. Many thanks.