Self Assessment - Am I In Trouble?!

[Tipzy]

Hello!

I believe I registered for a UTR many years ago accidentally and never actually used it. Back in September 2016 I started working on a freelance basis for a company, working 2-3 days a week to supplement my income. I would invoice on a weekly basis and the company would pay the money directly into my personal bank account.

A few weeks ago their accountant asked me to revise all my invoices from September 2016 up to now and include my UTR number. After speaking with HMRC around 5 times they eventually got my UTR number out to me (I'm unsure whether I was preregistered but I assume so).

After revising all invoices I have worked out I have earned just over £10k since September 16 up to the present day. Since I was only made aware of my UTR number a few weeks ago self-assessment did not even cross my mind.

In my current situation, what am I expected to do? Contact HMRC and begin a late self-assessment, or do I somehow include my earnings as backdated on my next self-assessment?

Confused and trying to avoid any huge fines! Thank you for reading so far, it is greatly appreciated.

Thanks!

 

[Alan]

Tax year 6th April 2016 - 5th April 2017 which is where the payment are, yes?

Self assessment due online by end Jan 2018 ( for tax year 16-17 )

A UTR is one thing, but you should also advise HMRC that you are self employed (UTR doesn't mean you are self employed ) , as you will also owe some NI.

 

[Tipzy]

Hi Alan,

Thank you for your response, what a relief!

I am also a director of a technology company and this was simply to supplement my income. I expect I will still need to advise HMRC of my current self-employment and begin paying all my due NI contributions.

Just to clarify, the self-assessment deadline that just passed was for the tax year 6th April 2015 - 5th April 16?

Thanks again Alan!

 

[Alan]

Just to clarify, the self-assessment deadline that just passed was for the tax year 6th April 2015 - 5th April 16?

not just past - past on 31 Jan 2017 - correct

 

[Scalloway]

begin paying all my due NI contributions.

Self employment NI is now collected through your self assessment, you don't make monthly payments any more.