Anyone who creates online content has been issued an alert by His Majesty’s Revenue and Customs (HMRC).
The government body is warning those who earn an income from content creation to check if they need to register for Self Assessment ahead of the deadline at the end of this month.
Online tax returns for the 2023 to 2024 tax year must be returned and paid by midnight on January 31, 2025, and any late submissions will be issued a penalty.
You’re required to submit a tax return if, in the last tax year from April 6, 2023, to April 5, 2024:
You may also need to send a tax return if you have any untaxed income from things like renting out a property, income from savings, investments and dividends, tips and commission, or foreign income.
In an alert issued on X (formerly Twitter) this week, HMRC said: “Myth: HMRC hasn’t been in touch, so I don’t need to file a tax return. Reality: You might need to do a tax return if you:
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Have earned more than £1,000 through a side-hustle
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Are a self-employed delivery driver/rider
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Rent out a property
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Create online content
“Check if you need to register on GOV.UK.”
If you fail to submit your tax return before the January 31 deadline you must pay a late filing fine of £100 if it’s up to three months late. This fee can then increase further if it’s submitted even later than this, or if you pay your tax bill late. You’ll also be charged interest on late payments.
You can appeal against a penalty if you have a reasonable excuse that stopped you from meeting the deadline but HMRC says you must send your tax return or payment as soon as possible after your reasonable excuse is resolved.
You cannot blame a cheque being bounced or a failed payment for missing the deadline, or say you submitted it late because HMRC didn’t send you a reminder.
Anyone unable to pay their tax bill in full by the January deadline can spread the cost using HMRC’s online ‘Time to Pay’ system, but you must file your Self Assessment tax return before setting this up.
