So according to HMRC's online registration helpline, the registration time limit for the self-employed is 31st January following the tax year in which the business commenced. In fact, they read me the blurb that is read out to those applying by phone, which does indeed say just that.
Which would be fine, except that according to HMRC's website, the time limit is 5th October following the tax year in which the business commenced. See http://www.hmrc.gov.uk/manuals/sammanual/sam100130.htm "An individual should register as self-employed no later than six months from the end of the tax year they became self-employed."
Than there's http://www.hmrc.gov.uk/guidance/selling/tax.htm which informs us, under the heading "Time Limit for notification of [class 2] National Insurance liability": "From your trading start date you have three months to notify HMRC that you are trading, otherwise you could face a £100 penalty".
Help me out, someone: is it 9, 6, or 3 months if ALL potential late registration fines are to be avoided?
Replies (5)
Please login or register to join the discussion.
9 months
If you get fined for anything less then appeal and send a copy of the nine months document.
It may be a question of HMRC not updating their website/documents properly.
Has anyone
Ever had a client who received a £100 penalty for failing to register within 3 months?
Possibly an odd question
But if someone is within Self Assessment (they have a high amount of untaxed interest say), then they commence in SE, do they still need to notify HMRC?
I would do it anyway tbh, but purely as a learning exercise :)