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Tax and HMRC

You must register once your VAT taxable turnover for the last 12 months goes over £90,000, or if you expect to go over £90,000 in the next 30 days alone. We can register you and keep your VAT returns right from then on.

It depends on your qualifying income: your self-employment and property income before expenses. Over £50,000 in 2024/25 means you joined from 6 April 2026. Over £30,000 in 2025/26 means you join from 6 April 2027, and over £20,000 in 2026/27 from 6 April 2028.

For most people, 31 January: that's the deadline to file your return online and pay what you owe for the tax year that ended the previous April. Paper returns are due by 31 October, and if you're new to self assessment you need to register by 5 October.

Register for self assessment by 5 October after the end of the tax year you started trading. HMRC then sends you a Unique Taxpayer Reference (UTR). We can register you if you'd rather not deal with the forms.

Yes. A limited company must send its annual accounts and, once HMRC asks for one, a company tax return (CT600) even when it made no profit. Late filing brings penalties.

Rather talk it through?

Kiera, Mark and Oakleigh are on Victoria Road in Burgess Hill, Monday to Friday. Tell us what you need and we'll give you a clear quote.

Kiera Knight, bookkeeper at Oval Accountants, hugging Oakleigh the office dog
Kiera KnightCompany Secretary and Bookkeeper