Warning as HMRC self-assessment deadline fast approaching – with new rules for Vinted sellers

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Around 5.4 million people still need to complete the online assessment, including many thrifty entrepreneurs who use platforms like Vinted, eBay, and Etsy. Around 5.4 million people still need to complete the online assessment before the deadline However, whether you will need to fill out an assessment depends on how much money is made. The HMRC says you may need to file one if you: Are self-employed and have earned gross income over £1,000 Earned below £1,000 but wish to pay Class 2 National Insurance Contributions voluntarily to protect your entitlement to State Pension and certain benefits Are a new partner in a business partnership Have received any untaxed income over £2,500 Receive Child Benefit payments and need to pay the High Income Child Benefit Charge because you or your partner earned more than £50,000 For those who are unsure, the HMRC has a handy tool to check if you need to file an assessment. “The quickest and easiest way to complete your tax return and pay any tax owed is to use HMRC’s online services – go to GOV.UK and search ‘self assessment’ to get started now.” What are the penalties for late tax returns?