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-   -   When to register for self-assessment (https://britishexpats.com/forum/moving-back-uk-61/when-register-self-assessment-950256/)

Patienceisavirtue Jan 6th 2024 11:29 pm

When to register for self-assessment
 
Hi, I'm trying to understand when to register as sole trader/for self-assessment if I returned to the UK in June 2023 (after living overseas for 13 years). If I register for self-assessment now how will HMRC understand it's only for the tax year from 2023-2024 and not for 2022-2023? On the HMRC website, they appear to instantly assume I'm registering for self-assessment for 2022-2023. I could wait until April but I'd like to register as a sole trader now. I'd appreciate any advice you can give.

dunroving Jan 7th 2024 8:27 am

Re: When to register for self-assessment
 

Originally Posted by Patienceisavirtue (Post 13234554)
Hi, I'm trying to understand when to register as sole trader/for self-assessment if I returned to the UK in June 2023 (after living overseas for 13 years). If I register for self-assessment now how will HMRC understand it's only for the tax year from 2023-2024 and not for 2022-2023? On the HMRC website, they appear to instantly assume I'm registering for self-assessment for 2022-2023. I could wait until April but I'd like to register as a sole trader now. I'd appreciate any advice you can give.

I'd say just wait until the deadline for online filing for 2022-2023 has passed. I can understand you wanting to tick off a task, but it's really not urgent.

Edited to add: That's January 24, less than 3 weeks away. Be patient. (Sorry, I just couldn't resist it).

Patienceisavirtue Jan 7th 2024 3:31 pm

Re: When to register for self-assessment
 

Originally Posted by dunroving (Post 13234584)
I'd say just wait until the deadline for online filing for 2022-2023 has passed. I can understand you wanting to tick off a task, but it's really not urgent.

Edited to add: That's January 24, less than 3 weeks away. Be patient. (Sorry, I just couldn't resist it).

Thanks very much for your reply. Great, I didn't realise it was Jan 24 and not April. I mainly wanted to register my sole trader business name for admin and accounting purposes. But yes, I'll be patient :)

christmasoompa Jan 8th 2024 1:29 pm

Re: When to register for self-assessment
 

Originally Posted by Patienceisavirtue (Post 13234614)
Thanks very much for your reply. Great, I didn't realise it was Jan 24 and not April. I mainly wanted to register my sole trader business name for admin and accounting purposes. But yes, I'll be patient :)

Just carry on with your accounts etc as if you were registered, and use the business name you plan to use - it's not like a Ltd company where you have to use a name that's unique.

Patienceisavirtue Jan 12th 2024 9:09 pm

Re: When to register for self-assessment
 
Thanks for the advice.


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