Taxpayers who need to submit a tax return for the tax year to 5 April 2023 should register for self assessment (SA) by 5 October 2023. Individuals who no longer need to file a tax return should also contact HMRC to have their notice to file withdrawn.

The deadline for submitting a tax return in respect of the year 6 April 2022 to 5 April 2023 is 31 January 2024 if submitting online, and 31 October 2023 if submitting by post. 

Individuals who need to submit a tax return for the first time will need to notify HMRC that they need to submit a tax return. This might include people who have started self-employment or as a partner during the 2022/23 tax year. Individuals who started to receive other taxable income during the year, such as rental income or investment income may also need to register.  

Increased income levels may be another trigger for individuals to register for self assessment. Individuals with income exceeding £100,000 for the tax year also need to submit a tax return, although this threshold is increasing to £150,000 from the 2023/24 tax year. Individuals with adjusted net income over £50,000, where they or their partner continue to receive child benefit payments, also need to register. 

Taxpayers should register by 5 October 2023, otherwise failure to notify penalties may be applied. 

By contrast, some individuals may no longer fit within HMRC’s criteria for when a self assessment return is required, owing to changes in their circumstances or changes to HMRC’s criteria. For example, HMRC no longer requires “no income other than PAYE” directors to register for self assessment. However, if HMRC has issued a notice to file a SA return for 2022/23, the return must be filed unless HMRC can be persuaded to withdraw the notice. 

Further reading 

ICAEW’s Tax Faculty is recognised internationally as a leading authority and source of expertise on taxation. The faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.

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