Tax Rebates & Refunds

The procedure to file for a tax refund for self employed individuals

June 27, 2010
Posted in Tax Rebates — Written by Geoffrey

If you are self-employed and reside in the UK, you can apply for a tax return by simply filling out a Self-Assessment tax return with HMRC. Individuals who are in a business either as a part of a partnership or as sole traders and receive income which is not taxed under the PAYE scheme are effectively self-employed.

How do you register yourself as self-employed?

You can register yourself as self-employed by three different means: online, phone or via post. Registering online is by far the most convenient and quickest way. HMRC has also set up phone lines where you can call and register yourself as self-employed. On the other hand, you can even download and print the application form from the internet and post it to HMRC.

What information will you need to provide to the HMRC?

When filling out the self-employed registration form, you need to provide the following details:

1) name
2) address
3) date of birth
4) national insurance number
5) email address
6) telephone number
7) business address
8) nature of business
9) business telephone number

What if you are self-employed and have income taxed by the PAYE system?
It is possible for you to be self-employed and employed at the same time. If you receive income from both self-employment and employment your National Insurance and Income Tax contributions are due separately. Both will be collected in different ways.

Irrespective of whether you are employed or self employed you can file for an income tax refund if you have overpaid in the previous tax year.

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