If you have recently started to receive income from the following:
– Self employment
– Directorship
– Rental property
– Other untaxed sources
You will need to complete a self assessment tax return. Generally speaking your first tax return period ends on 5 April after you commence any of the above.
The deadlines for submission of the return are:
– Paper – 31 October
– Electronic – 31 January
There is a lot more information and guidance available at http://www.hmrc.gov.uk/sa/index.htm
Or alternatively call us on 0116 242 3400 to discuss your specific circumstances or visit our web site