Self Assessment is a system HM Revenue and Customs uses to collect Income Tax.
You must send a tax return if, in the last tax year (6 April to 5 April), any of the following applied:
- you were self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
- you were a partner in a business partnership
- you earned £100,000 or more
- If you are a higher rate taxpayer, and you need to repay High-Income child benefit charge
- You need to claim income tax relief (like charitable gift aid donations, pension contributions, investments relief etc)
You may also need to send a tax return if you have any untaxed income, such as:
- some COVID-19 grant or support payments
- money from renting out a property
- tips and commission
- income from savings, investments, and dividends
- foreign income
Please note: You may have to pay interest and a penalty if you do not file and pay on time.
If you need help submitting a personal tax return, please get in touch for a fixed price quote.
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