Registration self assessment

flopsy1973

Doing my first self assessment and on the registration is asking date untaxed income received from ? Do I put the start of last tax year there ? Thanks

huw01

I put in the 1st of the month I became self employed and not on PAYE.think I put in 01/07/2024 from recollection. Start of the tax year would do,it's so they don't come after you for previous years

Dazed_and_C0nfused

flopsy1973 said:

Doing my first self assessment and on the registration is asking date untaxed income received from ? Do I put the start of last tax year there ? Thanks

Why are you registering?  That will probably determine the date you are best using.

flopsy1973

My untaxed interest is over the limit apparently but I don't have date for that so do I put start of tax year ?

masonic

flopsy1973 said:

My untaxed interest is over the limit apparently but I don't have date for that so do I put start of tax year ?

In that situation I'd use the date of the first interest payment you received during the tax year. Use of the word "apparently" is concerning, given you are going to have to make an accurate declaration of what interest you received.

flopsy1973

They are telling me I need to complete one not my decision. So first interest payment after April 5 2024?

Dazed_and_C0nfused

flopsy1973 said:

They are telling me I need to complete one not my decision. So first interest payment after April 5 2024?

You seem to be getting confused.

Are you registering for Self Assessment or are you completing a Self Assessment tax return?

masonic

flopsy1973 said:

They are telling me I need to complete one not my decision. So first interest payment after April 5 2024?

Before registering, it's worth verifying that you actually need to complete a tax return. How much interest did you earn in the 2024/25 tax year - more than £10k? If less than £10k is there any reason they couldn't collect under PAYE - e.g. earnings too low to cover the tax owed

You can tell them you don't need to submit a return if they've got it wrong. Yes they can ask anyone to complete a tax return, but in practice they wouldn't unless there was a genuine need.

So what does https://www.gov.uk/check-if-you-need-tax-return tell you?

masonic

Dazed_and_C0nfused said:

flopsy1973 said:

They are telling me I need to complete one not my decision. So first interest payment after April 5 2024?

You seem to be getting confused.
Are you registering for Self Assessment or are you completing a Self Assessment tax return?

Presumably been asked to file for the first time. When registering you get asked why (below image is from form SA1, though it's more common to use the online process).

Dazed_and_C0nfused

masonic said:

Dazed_and_C0nfused said:

flopsy1973 said:

They are telling me I need to complete one not my decision. So first interest payment after April 5 2024?

You seem to be getting confused.
Are you registering for Self Assessment or are you completing a Self Assessment tax return?

Presumably been asked to file for the first time. When registering you get asked why (below image is from form SA1, though it's more common to use the online process).

There is definitely more to this than has been explained in this thread.

https://forums.moneysavingexpert.com/discussion/6563498/400k-cash-investment-tax-implications/p4#latest

masonic

Oh! I see there is also a third thread where relevant matters are being discussed.

So piecing it together, the OP has...

• £400k in a GIA with cash and/or investments (including bond funds) that could easily throw off >£10k interest and potentially also capital gains
• Ongoing rental income from a second property which may have not been declared for the whole duration it has been let

Time to lay cards on the table, because it is starting to look like this may extend beyond the beginning of the previous tax year.