Advice needed

[amhsolutions]

Hi, my partner started a business as a sole trader on the 25th October 2018 and finished on the 18th of march 2019.

My question is, my partner was employed from another company during this time. We forgot to register with HMRC as self employed. I am guessing there is going to be a fine to pay for registering late? Obviously my partners accounts are due in and to be paid by January 31st 2020.

Any help would be appreciated.

 

[Scalloway]

If they register now, complete a self assessment and pay any tax due by 31 January 2020 I don't think there is any penalty. Penalties are only imposed if the 31 January deadline is missed.

https://www.gov.uk/self-assessment-tax-returns/penalties

 

[pabmans.co.uk]

Hi,

HMRC usually fine for late filing and tax payments, and not for late registration though they say they can.

If you register, file you tax return and pay your taxes by 31 Jan 2020, you should be fine. I suggest you register asap.

Hope this helps.