Do I Need to File a Tax Return This January?

Wondering whether you need to file a tax return by 31 January 2023? Then read on! In this guide, I’ll explain who needs to file a tax return by the end of January and how to check whether you send one to HMRC.

Friendly Disclaimer: Whilst I am an accountant, I’m not your accountant. The information in this article is legally correct but it is for guidance and information purposes only. Everyone’s situation is different and unique so you’ll need to use your own best judgement when applying the advice that I give to your situation. If you are unsure or have a question be sure to contact a qualified professional because mistakes can result in penalties.

Who Needs to File a Tax Return in January 2023?

Anyone who is newly registered for self-assessment or was already registered during the previous tax year will need to file a tax return by the end of January 2023. The tax year runs from 6 April to 5 April each year and tax returns are required around 10 months after it ends, by 31 January.

Worried whether you should have registered with HMRC? Then read this guide to find out when to register as self-employed.

When is Your First Tax Return Due?

When your first tax return is due depends on when you actually registered as self-employed. Let’s say you registered on 1 January 2022, you’ll need to fill in a return by 31 January 2023 because you are within the previous tax year that ended on 5 April 2022. However, if you registered as self-employed on 16 May 2023, your first tax return won’t be due until 31 January 2024.

When is Your First Tax Return Due?

How to Check if You Need to File a Tax Return

If you are registered as self-employed with HMRC, then the easiest way to check if you need to fill in a tax return is to log into your .GOV account. Once inside you’ll have a notification in the self-assessment section letting you know whether you have an outstanding tax return.

Will HMRC Tell Me to Fill In a Tax Return?

Sadly no. It’s up to you to decide whether you should register for self-assessment and file a tax return. That’s because it is impossible for HMRC to know everyone’s financial affairs, so they place their trust in us to declare any untaxed income that we receive (and to work out whether we should be telling them or not). That doesn’t mean you can skip filing a return. The tax man has ways and means of finding out if you should be filing a tax return but you haven’t done so.

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About Anita Forrest

Anita Forrest is a Chartered Accountant, spreadsheet geek and money nerd helping financial DIY-ers organise their money so they can hit their goals quicker.