Self Assessment timing

Archergirl

I usually do my SA about August time.
I have just had an email from HRMC about doing one now.
Should I do one now with figures from August till April so I am then in line or just do it how I usually do in August?

Ayr_Rage

It's just a reminder that you are required to file a return for 24/25.

You file for the full tax year, 6/4/24-5/4/25

The usual filing timescales apply, you need to do a little reading as you seem confused.

Dazed_and_C0nfused

Archergirl said:

I usually do my SA about August time.
I have just had an email from HRMC about doing one now.
Should I do one now with figures from August till April so I am then in line or just do it how I usually do in August?

Not sure what you mean, the tax return will almost certainly be for the tax year to 5 April 2025.

So what relevance has anything that happened after that got?

DullGreyGuy

Archergirl said:

I usually do my SA about August time.
I have just had an email from HRMC about doing one now.
Should I do one now with figures from August till April so I am then in line or just do it how I usually do in August?

It's always full year, you have from the 6th April 2025 until the 31 January 2026  to complete your return for 6 April 2024 to 5 April 2025 and pay what's due. 

Its clearly beneficial for the government to know earlier rather than later how much tax revenue they are going to generate hence the emails that have started being sent but as long as you do it before 31 Jan 2026 its fine. 

sheramber

Are you self employed?

Do you do your accounts from August to August rather than April to April? 

Nomunnofun1

Archergirl said:

I usually do my SA about August time.
I have just had an email from HRMC about doing one now.
Should I do one now with figures from August till April so I am then in line or just do it how I usually do in August?

Presumably you have received this, as I have. It doesn’t state anywhere that it needs to be completed now.  

I would be concerned if you answered sheramber’s query affirmatively- what details would you have entered on 2023/24 return - hopefully accounts ending in August 2023 and not ending August 2024.

Bookworm225

Technically speaking HMRC must tell you each tax year they require you to submit a tax return otherwise you cannot be penalised for failing to submit if you have not been told you have to. 

For people already in self assessment, they do so by sending you a notice to file. That notice comes out shortly after the start of the new tax year (ie mid April) but relates to the tax year that just ended on 5th April 

No idea why you think August has anything to do with life. Was that when you started your very first tax return?

Your second return, and every one since then, must (and can only) cover the tax year 6th April to 5th April and the deadlines for submitting that return are easily checked public info.

SVaz

You need to start using April - April regardless.
With MTD itsa coming in next year, it’s compulsory to use those dates afaik. 

TheGreenFrog

For those who pay tax above basic rate and make charitable donations there is potentially a benefit in delaying filing the return as you can include charitable donations made after end of relevant tax year but before date of filing the tax return.  Small cashflow advantage for those whose marginal rate will stay the same, but better tax saving if you anticipate having a lower marginal tax rate in the year after (i.e. in this case 25/26).

sheramber

I read it as the OP has been submitting his return after August and reporting his income from the previous August to current August, as  he now asks if he should report his income from August to April only and submit his return now, instead of August.

To give the correct advice we need to know the background  of what he has been reporting - what income and what accounting dates. 

Also , how many years he has been  doing it. 

MDMD

HMRC have changed the way self employed people report their income and prior to 24/25 send employed people who had reported income for their accounting period must now align to the tax year. As someone said before MTD for income tax won’t work if they don’t.

https://www.litrg.org.uk/working/self-employment/calculating-self-employed-profits/trading-income-basis-period-reform