Scottish households are being urged to check if they need to fill in a tax return ahead of two key October deadlines set by HM Revenue and Customs (HMRC), to avoid the risk of incurring a fine. Advice Direct Scotland is reminding people that they only have until October 5 to inform HMRC if they need to register for self-assessment for the 2023/24 tax year.
The national advice agency recently launched a free tax helpline and website, taxadvice.scot, which is backed by HMRC and is designed to help people understand their tax obligations. Another key deadline falls at the end of the month, with anyone who wants to file a paper version of their tax return only having until midnight on October 31 to do so.
People who are unsure if they need to register for self-assessment can check on the HMRC website or call an adviser at taxadvice.scot on 0800 756 3381.
Registration can be completed easily online through HMRC, but anyone who fails to do this and submits their tax return late risks a fine.
There are a number of reasons that people might need to fill in a tax return, including if they are self-employed as a ‘sole trader’ and earned more than £1,000 during the tax year.
Who might need to complete a Self Assessment for 2023/24
Taxpayers may need to complete a tax return if they:
- are newly self-employed and have earned gross income over £1,000
- earned below £1,000 and wish to pay Class 2 National Insurance Contributions voluntarily to protect their entitlement to State Pension and certain benefits
- are a new partner in a business partnership
- have received any untaxed income over £2,500
- receive Child Benefit payments and need to pay the High Income Child Benefit Charge because they or their partner earned more than £50,000
More information can be found on GOV.UK and anyone who is unsure if they need to file a Self Assessment can use the free online tool on GOV.UK to check.
Once registered for Self Assessment, they will receive their Unique Taxpayer Reference, which they will need when completing their return and paying any tax that may be due. Customers will have to reactivate their account if they have registered for Self Assessment previously but did not send a tax return last year.
Scots struggling to understand their tax obligations or navigate their self-assessment forms can take advantage of Advice Direct Scotland’s new, free tax service.
Staff can answer questions on a wide range of areas, from PAYE and National Insurance queries to advice on filling in self-assessment forms.
They can also offer guidance on tax related to pensions, inheritance tax, capital gains tax, and marriage allowance, as well as help with claiming child benefit and Tax Credits.
Customers can also receive support in claiming tax refunds and managing any tax-related debts.
Scottish businesses can also benefit from the service, with advice on VAT registration, corporation tax, and compliance issues.
Andrew Bartlett, chief executive of Advice Direct Scotland, said: “It’s the time of year when people start turning their minds to their tax affairs, and the first step is establishing whether you need to register with HMRC to fill in a tax return.
“It’s important not to miss any of the key deadlines set by HMRC as if you do, you risk incurring a fine on top of any tax that you might owe from the 2023/24 tax year.”