There are a number of reasons why you may be asked to complete a tax return for the first time. For example, if you:
- Become a company director
- Start to receive income from land and property in the UK
- Have taxable foreign income of more than £300
- Sell shares, property or other assets liable to capital gains tax
- Have annual income of £100,000 or more
- Receive untaxed income which cannot be collected through your PAYE code
The easiest way to register for Self Assessment is to phone the H M Revenue & Customs (HMRC) helpline on 0845 900 0444.
We are more than happy to help you if you require any further assistance with the registration process or with any other related matter.
Also, please contact us and ask for additional information on any of the following topics:
- An introduction to the tax system for the self employed
- An introduction to self assessment
- Interest and tax payments
- Take care to avoid a penalty
- Lasting powers of attorney