HMRC has rolled out a new digital service designed to make registering for self-assessment quicker and more straightforward. This improvement comes ahead of the October 5 deadline for individuals to inform the tax office if they became self-employed, started a profitable side hustle, or earned untaxed income during the last tax year.
The updated registration system is available through online personal tax accounts or the HMRC app. A key benefit of the new digital service is the expedited delivery of a 10-digit Unique Taxpayer Reference (UTR), which is now expected to appear in online accounts within 72 hours. Previously, taxpayers could face a wait of up to 15 days to receive their UTR.
It is important to note that this new digital service is exclusively for individuals registering themselves. Those who need to register a partnership, are a trustee of a trust or registered personal representative, or are registering for Capital Gains Tax only, must continue to use traditional registration forms (CWF1 or SA1).
Missing the October 5 registration deadline could lead to potential fines. Once registered, the main deadline for submitting a self-assessment tax return and paying tax for the previous tax year is January 31. Late filing can result in an automatic £100 fine, with further penalties accruing over time.