Thursday 5 October 2023 is the deadline to notify HMRC of a new source of income or gain for 2022/23. Last week HMRC also issued a reminder of this deadline.
Those required to register for self-assessment include:-
- Anyone who is self-employed or a sole trader in a business which commenced in 2022/23;
- Anyone not self-employed but who had a new source of income or a gain in 2022/23; or
- Anyone who became a partner in a partnership or any new partnership which commenced in business in 2022/23.
Failure to register by the deadline can result in HMRC charging a failure to notify penalty.