![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/three-day-warning-as-millions-could-risk-fine-from-hmrc-for-missing-deadline/&media=https://uknews.evprotec.com/wp-content/uploads/2023/10/0_Woman-looking-worried-holding-paperwork-at-home.jpg&description=Usually, self assessment tax returns are associated with those who are self employed but HMRC has warned that more people may need to register this year due to the rise in side hustles Brits have just three days left to register as a self-assessment taxpayer or risk being fined by HMRC. Self-assessment tax returns are the system HMRC uses to collect tax from people who don't pay it automatically from their wages. Around 12million people file a tax return every year. Usually, self-assessment tax returns are associated with those who are self employed but HMRC has warned that more people may need to register this year. This is because the number of Brits taking on side hustles to bring in extra cash to help with the cost of living is going up, and if you earn money on the side of your PAYE day-to-day job, you may need to register. According to data compiled by the comparison site Finder.com, published in May this year, around 44% of Brits had a side hustle in 2023. The deadline for registering for self-assessment is 11.59pm on Thursday, October 5. You may end up being fined by HMRC if registering late means you miss the tax return and tax payment deadline. The deadline for filing a paper tax return is October 31, or for online tax returns, the deadline is January 31 next year. You could be fined £100 if you're up to three months late filing your tax return. You can be charged more on top of this if it is later - plus interest - or if you pay your tax bill late. According to Turn2Us, you will need to register for self assessment tax if in the last tax year: There are different ways to register depending on your circumstance and you can find out if you need to on the Gov.uk website through its questionnaire here. If you do need to register, you can do so online or by calling the self-assessment helpline on 0300 200 3310. Myrtle Lloyd, HMRC's Director General for Customer Services, said: "If you are new to Self Assessment and unsure how the process works – HMRC is here t){kind=link}
Usually, self assessment tax returns are associated with those who are self employed but HMRC has warned that more people may need to register this year due to the rise in side hustles
Brits have just three days left to register as a self-assessment taxpayer or risk being fined by HMRC.
Self-assessment tax returns are the system HMRC uses to collect tax from people who don’t pay it automatically from their wages. Around 12million people file a tax return every year.
Usually, self-assessment tax returns are associated with those who are self employed but HMRC has warned that more people may need to register this year. This is because the number of Brits taking on side hustles to bring in extra cash to help with the cost of living is going up, and if you earn money on the side of your PAYE day-to-day job, you may need to register.
According to data compiled by the comparison site Finder.com, published in May this year, around 44% of Brits had a side hustle in 2023. The deadline for registering for self-assessment is 11.59pm on Thursday, October 5.