Unit 301 Session 6 how to become self employed

​Unit 301
Session 6

​How to become self employed

Click on the link below, Watch the video and answer the questions that follow.

https://youtu.be/GapbPVEPDgM?si=7HwhbmDFoFsB5-ww

Multiple Choice

According to the passage, what is the first step to access your very first tax return as a self-employed individual in the UK?

• Create a Government Gateway Account

• Contact HMRC by phone

• Visit your local tax office in person

• Submit a paper tax return form

Multiple Choice

What is the purpose of the Government Gateway Account as described in the passage?

• To house all of your relevant taxes and allow access to tax returns and self-assessment.

• To provide access to government-funded healthcare services.

• To register to vote in national elections.

• To apply for a UK passport online.

Multiple Choice

What is the next step after creating a Government Gateway Account, according to the passage?

• Open a government gateway account, log into that account, and follow the link to get online access to a tax duty or scheme.

• Wait for a confirmation email before proceeding with any further steps.

• Contact customer support to activate your account manually.

• Download and install the Government Gateway mobile app to continue.

Multiple Choice

How long does it typically take to receive your UTR number after submitting the form?

• Within 10 days

• Within 1 day

• Within 1 month

• Within 3 months

Multiple Choice

By when should you register for self-employment if you have started self-employment, according to the passage?

• By the 5th of October in the second tax year

• By the 31st of January in the first tax year

• By the 6th of April in the first tax year

• By the 31st of December in the second tax year

Multiple Choice

What date does the tax year run from?

• The tax year runs from the 6th of April in one year through to the 5th of April of the following year.

• The tax year runs from the 1st of January to the 31st of December.

• The tax year runs from the 1st of April to the 31st of March.

• The tax year runs from the 1st of July to the 30th of June.

Multiple Choice

If you begin your trade at the start of a tax year, your registration deadline could be up to how long away?

• Up to a year and a half away.

• Up to six months away.

• Up to two years away.

• Up to three months away.

Multiple Choice

If you miss the registration deadline, penalties may be issued.

• True

• False

Multiple Choice

When is the filing deadline if you are completing a return online?

• The 31st of January that follows the tax year.

• The 5th of April that follows the tax year.

• The 31st of October that follows the tax year.

• The 1st of January that follows the tax year.