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If you want to stop being self-employed, you have to let HMRC know as soon as possible, otherwise they’ll still expect you to file a Self Assessment tax return.
There are a few ways you can go about it:
You will need:
HMRC will assume you’re still self-employed and will continue sending you a tax return every year. Definitely don’t ignore it or you’ll be fined (about £1,600 if you’re a year late). Just get in touch with HMRC.
HMRC will still expect you to pay tax. They’ll create an “estimated tax bill” for you – it’s legally due and you can only cancel it within 3 years.
Yes, you do.
What you need to include on your last Self Assessment tax return:
What you have to do:
What HMRC will do:
Of course! We can file your Self Assessment for you for a flat £149, and let HMRC know that you’ll no longer be self-employed, and confirm to them that you don’t need to submit a tax return the following year.
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