PAYE employees and self-assessment records

Everything you need to know about HMRC's self-assessment records if you are a PAYE employee

You might think that all of this self-assessment malarkey doesn’t apply to you if you are a PAYE employee. In many cases, this is true – but it isn’t always the case. Luckily, our experts at DSR Tax Claims are at hand to make sure that your taxes are made as simple as possible for you. Check out our handy online calculator too – you might find that you are eligible for a tax rebate – and if you are, call our friendly team on 0330 122 9972 and that money could be back in your bank account within 21 days.

What are self-assessment records?

HMRC set up a record of everyone who registers for self-assessment – that way, they know who to expect a tax return from. They also expect those tax returns by their deadline so they will use these records to see who has a tax return outstanding. If you have registered for self-assessment and need to file a tax return, HMRC will remind you each year, around the start of the new tax year in April. You won’t need to keep re-registering each year – you only register the once and the record remains with HMRC for as long as you are eligible for self-assessment.

Why would you need a self-assessment record as a PAYE employee?

It isn’t only self-employed people who are required to submit a self-assessment tax return. Under certain circumstances, PAYE employees can also be required to file a tax return. If you have a large amount of business expenses that you wish to claim as tax relief with DSR Tax Claims then we may have to open a self-assessment record on your behalf. This will be the case if your business expenses are over £2,500 in a tax year. This doesn’t change your employment status though – you are still a PAYE employee, you just need the self-assessment record to be able to claim back your expenses. Our friendly team can talk you through it on 0330 122 9972.

Can these records be closed?

If you no longer qualify for self-assessment, or you no longer want to claim your tax refunds, DSR Tax Claims can arrange to have your self-assessment record closed on your behalf – although we will need your permission to do so, we won’t just close it without letting you know. However, we can only close your self-assessment record if HMRC believe that you no longer need to file a tax return.

While your self-assessment record is open, HMRC will expect you to file a tax return and if you don’t file one, maybe because you think you don’t need to anymore, HMRC can still hit you with fines and penalties for missing their filing deadline. That is why it is really important to let us know if your circumstances change and you no longer wish to claim your tax rebate – call us on 0330 122 9972 as soon as you are aware that your circumstances have changes so we can inform HMRC that your record should be closed.

Our team of tax preparation specialists at DSR Tax Claims are always on hand to take the hassle out of your taxes so you can get on with enjoying your life, so call our team of experts on 0330 122 9972 – we’re the tax experts you can trust.

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