f you think you no longer need to complete a tax return, let HMRC know as soon as you can.
If you don’t, they will still expect one from you. Here’s how to make sure you’re not charged any late fees and penalties.
What do I need to do?
There are several ways you can let HMRC know that you no longer need to file and submit a tax return. You can let them know by:
- Calling HMRC on 0300 200 3311
- Using this online form on their website
Once you’ve done that, you’ll have a few more steps to complete. These include:
- Completing a Self Assessment tax return
- Paying the tax that is due – HMRC will also cancel your Class 2 National Insurance contributions
- Giving HMRC your correct address for the next 12 months
- Keeping your records for the next 6 years (like receipts, bank statements, invoices, etc)
If you are working in the Construction Industry, then call the CIS helpline (0300 200 3210) instead.
You can see more details on this HMRC page.
What if I already received a letter from HMRC?
If you received a letter from HMRC, but you don’t think you need to file a tax return anymore, you still need to contact them.
Three things can happen. HMRC might:
- Agree to cancel it – you will no longer need to submit it, and they’ll also remove any penalties for missing the deadline
- Not agree to cancel it – you will need to submit a tax return and also tell them about the change in your situation
- Make you pay more. If they think you’ve not paid enough tax, they might still agree to cancel the tax return, while also issuing you with a Simple Assessment so you can pay tax on any untaxed income
If you’ve paid too much tax throughout the year, you may be owed a tax refund. You can get in touch HMRC.
What happens if I haven’t called HMRC yet?
Then HMRC will continue to send you Self Assessment tax returns. That’s not all. HMRC may also create an estimated tax bill for you. This bill is legally due and can only be removed by filing a tax return within 3 years.
In short, getting out of Self Assessment should be straightforward, but we know how it can quickly get complicated.
Need a hand?
Still not sure what your situation is? If you’re trying to deregister and need a hand figuring out your next step, don’t hesitate to get in touch! Our friendly support team is happy to help. You can reach them on [emailprotected] or via the live chat on the homepage.
Still not sure and need more help?
Don’t panic. We can help. We offer one-off, personal tax advice from an accredited accountant for just £119. Book a phone or video call to get your head around your tax situation, what it means, and what to do next. Learn more here.
