Questions and Answers
I’m now self-employed, what are my filing obligations?
I have recently left my job and gone freelance. I know I’ll need to pay my own taxes now but how do I do that and what are the filing deadlines?
Last updated 3 Aug 2026 | First published 7 Jul 2020
By Helen Wood, CA 1 min read
Self-Assessment Tax Returns
Self-assessment tax returns
Your first action will be to register with HMRC if you do not already file a tax return. The deadline for this is 5th October in the second year of trading. For example, if you began trading on 30th July 2026, you must register with HMRC by 5th October 2027. If you are not registered by this deadline, you may receive a Failure to Notify penalty. Ideally, you should register as soon as possible.
PAYE
If you are taking on employees, you will need to register for a PAYE scheme before their first payday. You can register up to two months before you first pay them.
Your first period for tax will run from when you began trading until the next 5th April, which is the income tax year-end. You will then have until 31st January in the following year to file your self-assessment tax return. If you miss this deadline, you will be given an automatic £100 late filing penalty. This will increase with further automatic penalties if you are more than three months and more than six months late.
In your second and subsequent years of trading, depending on your chosen year end, you will be taxed each year on the 12 months up to your year end in each tax year. For example, if your year end was 30th June 2027, your results would be included in your 2027/28 tax return, which does not need to be filed until 31st January 2029.
VAT
If your business makes more than £90,000 over 12 months, you will need to register for VAT. You also need to register if you expect your business will make more than £90,000 in the next 30-day period. Not all forms of income count towards the £90,000 threshold and, in some cases, it may be advantageous to register early.
Need some help?
If you would like to discuss your tax compliance needs with a friendly, experienced TaxAssist Accountant please contact us on 01905 382 020 or use our online contact form.
Last updated 3 Aug 2026 | First published 7 Jul 2020
This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.
Helen Wood, CA
Helen is a qualified chartered accountant (CA) and joined TaxAssist in 2025 following three years as a freelance content writer for clients in the tax and accounting publishing sector. Prior to this, She spent 17 years at Big Four and Top 10 accountancy firms. Helen writes clear and helpful articles on tax and accounting for businesses and individuals.
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