You may need to register with HMRC if you have to submit a tax return. This may be because you have income from self-employment or income from a property for instance.
There are different ways of registering with HMRC depending on whether you are self-employed, not self-employed or you are a partner in a partnership.
There is a deadline that applies for registering with HMRC and this is usually the 5th October following the tax year that your tax liabilities arose. We can be more specific once we review your situation.
We can help you with registering with HMRC and help you obtain a Unique Taxpayer Reference.
Your registration with HMRC is likely to involve some accounting or some consideration of taxes and so we are also keen to provide a brief review with no charge or commitment to explore how we can help.
CLIENT CASE
Martin’s situation was not particularly complicated. He is a self-employed videographer and always very committed to keeping his record keeping up to date and organised.
He came to us for help with registering his business with HMRC as he had a few queries on how to do this and wanted to make sure that the registration to HMRC and the notification of his business was absolutely correct.
We supported him with the online registration of his business and gave comfort that all was well.
In the process, we spent some time with Martin on reviewing his record keeping and spreadsheets and gave some additional guidance with expenses, accounting software and other record keeping.
He is now 100% comfortable that the accounting function is correct and time efficient for him to run his business.
Late registration and notification of income to HMRC
Sometimes, there may be times where HMRC haven’t been informed of an income source such as self-employment or rental income.
If this is something that you have been concerned about for a while, and you are in situation where you need to advise HMRC of some income over a period of time, then don’t hesitate to get in touch.
Our tax consultant, Amanda has made many a late notification and disclosure of income for many people in a completely calm and non-judgement way. The objective is to firstly ascertain the amount of income that needs to be reported to HMRC, determine the amount of tax payable (which is often not as frightful as one might have worried this to be) and then disclose this to HMRC in the best light to minimise penalties and interest.