You may be wondering why you have been sent a notice to complete a tax return, or whether or not you should be completing one for the year.
The list below explains when you need to prepare a self assessment, but should you need any further information, please do not hesitate to contact us;
- You were self employed at any point of the tax year (runs from 6 April to 5 April)
- You received more than £2,500 of un-taxed income for renting property or from un-taxed savings
- You received dividend income of over £5,000 in the year
- Your investment income was £10,000 or more before tax
- You made a profit from selling a second property or shares and owe Capital Gains Tax
- You are a company director
- Your income was more than £50,000 and you or your partner claimed Child benefit
- You received overseas income and need to pay UK tax on it
- You lived abroad and need to pay tax on your UK income
- Your income was over £100,000 for the tax year
- You were trustee of a trust or registered pension scheme
- If HMRC have issued you with a tax return, you must still complete and submit it
If you would like any advice on whether or not you should be completing a Self Assessment, or would like help completing and filing a tax return, please call 0845 303 1144 or email firstname.lastname@example.org
Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.