Tax self assessment

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chrisd

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Just wondering

I have done a tax self assessment, via my accountant, every January since it become a requirement. Now I am semi retired and only have a state pension and some wages which paye is done on, i think there is no requirement to submit a self assessment judging by the .Gov website but do i need to de-register or anything to avoid a fine ?
 

fundy

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Just wondering

I have done a tax self assessment, via my accountant, every January since it become a requirement. Now I am semi retired and only have a state pension and some wages which paye is done on, i think there is no requirement to submit a self assessment judging by the .Gov website but do i need to de-register or anything to avoid a fine ?
As said, easiest option is to write them a letter explaining your situation has changed and that you dont think you need to submit a SA return in future and let them confirm
 

Slab

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When I went from self employed earnings + wages to just wages I submitted anyway (because I was in the system and prompted to submit) and HMRC told wrote back to me to say there was no longer a requirement to continue to submit self assessment
 
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I was informed by HMRC many years back that I no longer needed to do an assessment. About 5 years ago, they cam after me for some overpaid child benefit (didn't even know we were getting it as never paid to me). They said it would have been caught if I'd been doing an assessment, and I should start doing assessments again. I paid it back in 1 hit, and 2 years later, they told me that I no longer need to do an assessment, again. I can't remember for sure, but when you log in to the portal, it asks you a couple of questions and tells you whether you need to do one or not. You can choose to do one regardless, if you're just on PAYE with no benefits in kind, it's straightforward and takes about 5 minutes max.
 

drdel

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Get your accountant to tie up any loose ends. HMRC will probably want to know any 'company' assets, debts or income due to you business has been accounted for.
 
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chrisd

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Thanks for responding guys

I checked on the .Gov and I dont need to do self assessment but in effect I have to de register. I rang them today and they took care of it for me therefore saving £200 to my accountant and/ or doing it myself.
 
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chrisd

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Get your accountant to tie up any loose ends. HMRC will probably want to know any 'company' assets, debts or income due to you business has been accounted for.
Thanks for posting. They were all tied up in last year's.
 
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Will do my lad's SA return with him this week. At least he won't be due to pay income tax on March 2020 earnings that didn't hit his bank account until mid-April 2020 and after he'd been made redundant and signed up for UC - delayed income that meant his first UC payment end May 2020 was cut accordingly (don't you just love UC rules - well I thought it was a nonsense in the specific circumstances of the pandemic though most here disagreed - but there you are :) )
 

banjofred

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Funny this came up now. I have to do an assessment for the first time....in April I guess? Called a couple years ago to see if I needed to do anything and they told me not to bother until I started getting my US social security (which because of a treaty between the UK and US I pay tax on here in the UK since it's my residence). I started that in Sept 2019 but didn't receive enough to do it for that year. For 2019-20 I'll get enough to go over the limit by about £2,000. I was going to apply for a tax number but was advised by somebody I know who is a UK citizen, but worked in the US for quite a while and has dual citizenship, and he said I can go ahead and fill out the self assessment/make the payment (about £400 I guess) but evidently there is a spot on the form where I just let them know I don't have a NI number and why etc. Does this sound right?
 

fundy

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Funny this came up now. I have to do an assessment for the first time....in April I guess? Called a couple years ago to see if I needed to do anything and they told me not to bother until I started getting my US social security (which because of a treaty between the UK and US I pay tax on here in the UK since it's my residence). I started that in Sept 2019 but didn't receive enough to do it for that year. For 2019-20 I'll get enough to go over the limit by about £2,000. I was going to apply for a tax number but was advised by somebody I know who is a UK citizen, but worked in the US for quite a while and has dual citizenship, and he said I can go ahead and fill out the self assessment/make the payment (about £400 I guess) but evidently there is a spot on the form where I just let them know I don't have a NI number and why etc. Does this sound right?
Uk tax returns are due on 31st January following the end of the tax year. i.e for the tax year ending 5th April 2020 the tax return is due 31st January 2021 (albeit this years has been extended to the end of Feb) so if its for 19-20 tax year you need to do it asap (or at least clarify with HMRC what is required)

I think as you are resident here you need a NI number but not 100% certain, likely others on here will be more up to speed on foreign income and requirements (can try and look into it next week if you need)
 

banjofred

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Uk tax returns are due on 31st January following the end of the tax year. i.e for the tax year ending 5th April 2020 the tax return is due 31st January 2021 (albeit this years has been extended to the end of Feb) so if its for 19-20 tax year you need to do it asap (or at least clarify with HMRC what is required)

I think as you are resident here you need a NI number but not 100% certain, likely others on here will be more up to speed on foreign income and requirements (can try and look into it next week if you need)
Thanks. I'm not sure about the NI number....I can argue it either way.....but I'm not the tax folks, so my opinion matters for naught. I won't ever "work" in this country......I've been retired for almost 10 years now.
 

fundy

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Thanks. I'm not sure about the NI number....I can argue it either way.....but I'm not the tax folks, so my opinion matters for naught. I won't ever "work" in this country......I've been retired for almost 10 years now.

If no one else posts Ill have a look monday, but would recommend you pick up the phone to HMRC to get them to confirm for you (phone lines will be bsuy)
 

JamesR

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Typical HMRC, they aren’t extending the filing deadline. Just not giving penalties or interest until March.
Potatoes, Tomatoes 😏
 

banjofred

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If no one else posts Ill have a look monday, but would recommend you pick up the phone to HMRC to get them to confirm for you (phone lines will be bsuy)
I think I took care of it today. Sat on hold for at least 20 minutes waiting for someone to answer.....then got forwarded to someone else and another 10-15 min wait. If the lady is correct, I needed to fill at out a SA1 and send it in (requesting a UTI? number). They said that I should get a letter in April with this number on it and telling me to do my self assessment. Just sit back until April I guess......
 

Lord Tyrion

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I think I took care of it today. Sat on hold for at least 20 minutes waiting for someone to answer.....then got forwarded to someone else and another 10-15 min wait. If the lady is correct, I needed to fill at out a SA1 and send it in (requesting a UTI? number). They said that I should get a letter in April with this number on it and telling me to do my self assessment. Just sit back until April I guess......
Are you sure you didn't ring 111? You may want to Google UTI 😳.

Well done on sticking it out on the phone. Ringing HMRC is often a challenge, I think they like to test people to see how long they will last before hanging up.
 

banjofred

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Are you sure you didn't ring 111? You may want to Google UTI 😳.

Well done on sticking it out on the phone. Ringing HMRC is often a challenge, I think they like to test people to see how long they will last before hanging up.
Yep.....make that a UTR number.

Looking for a new laptop/chromebook now.....my old (but good Macbook) is overheating like crazy. Blown out the vents once which helped about a year ago.....but it is heating like crazy now. Curry's of course is likely closed.
 
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