Has your business changed? Here’s what it means for Self Assessment tax

If you run a business, you’ll know things can change quickly. You might have started trading for the first time, taken on extra work, returned to self-employment or decided to close your business.

Whether you run a pub, restaurant, bed and breakfast or market stall, making sure your Self Assessment tax record reflects your circumstances can help you avoid unnecessary penalties and make managing your tax much easier.

Seasonal income and multiple income streams mean it’s worth checking that you’re taking the right action at the right time.

Find the situation below that best matches yours.

I started a hospitality business – do I need to register for Self Assessment?

If you recently started working for yourself, the quickest way to find out whether you need to complete a Self Assessment tax return is to use HMRC’s online checker.

Most people who receive income from self-employment will need to register for Self Assessment, but if their income is £1,000 or less for the tax year, they may be covered by the trading allowance.

Use the checker if you’ve started running a:

• café or restaurant
• bed and breakfast or guest house
• catering business
• food truck or street food business
• pub, inn or bar
• wedding or events business
• or any other hospitality business

The deadline if you need to register for the first time for income received in the 2025 to 2026 tax year is 5 October 2026. If you missed the deadline you need to take action now.

Check if you need to send a Self Assessment tax return – GOV.UK

Check how to register for Self Assessment – GOV.UK

I used to complete Self Assessment but stopped – what if I need to do a tax return again?

If you’ve completed a Self Assessment tax return before, you should already have a Unique Taxpayer Reference (UTR).

Rather than registering as a new, you’ll usually need to reactivate your Self Assessment record, so HMRC knows you need to submit a return.

This is common in hospitality, where people move in and out of self-employment, pick up seasonal work, or start self-employment alongside another job.

Before you start your online reactivation, have your UTR ready to help make the process quicker.

Register or reactivate Self Assessment

I’ve stopped trading – do I need to tell HMRC?

Yes – and this is one of the most missed steps if you’ve stopped trading.

You should tell HMRC as soon as possible if you’ve:

• sold your business
• stopped trading or closed down
• retired
• ceased self-employment for any other reason

HMRC won’t automatically know if your circumstances have changed. If you don’t tell them, you will continue to receive reminders. If you don’t respond and don’t submit a tax return, you may receive a late filing penalty – even if you have no tax to pay.  Penalties can increase the longer a tax return remains outstanding.

Tell HMRC if you no longer need to send a tax return

I need to complete a tax return – when should I do it?

You don’t need to wait until 31 January to submit your online tax return.

If you already have the information for your tax return – you can submit it now.

Many hospitality business owners find it easier to file early, when figures are fresh, and records are to hand, rather than leaving it until the busy January deadline.

Filing early means you’ll:

• know exactly what you owe – or whether you’re due a refund
• have time to budget and set money aside for your payment
• avoid any surprises around Payments on Account – the advance payments towards your next bill that can catch newly self-employed people off guard if they leave it until January
• reduce the stress of the last-minute rush

Importantly, filing early does not mean paying early. Your payment deadline remains 31 January 2027, regardless of when you submit your tax return.

File your Self Assessment tax return online

I’ve lost my UTR – how do I find it?

Your UTR (Unique Taxpayer Reference) is a 10-digit number that identifies you to HMRC. You’ll need it to file your tax return and manage your Self Assessment.

You can usually find it:

• in the HMRC app
• in your HMRC online account on GOV.UK
• on previous Self Assessment letters and notices

Checking online or via the app is usually quicker than contacting HMRC. UTRs cannot be provided over the phone for security reasons and must be sent by post.

Find your UTR number

Where can I get help?

HMRC offers a wide range of free support, including step-by-step online guidance, webinars, videos and webchat. These are worth bookmarking so you have them as a quick reference when you need them.

Help online with Self Assessment