Do I need to complete a tax return?

You are required to submit a tax return if

  • HMRC have issued you with a notice to complete a return; or
  • Your tax liability on the income you have received in the year is more than the tax that has been deducted from that income before it was paid to you.

The main examples are:

  • a self-employed sole trader
  • a partner in a business partnership
  • paying tax through PAYE but want to pay tax you owe without changing your tax code
  • employed and want to claim work expenses or professional subscriptions of more than £2,500
  • a director of a charity who gets paid or receives ‘benefits’ – eg travel expenses or a company car
  • a religious minister of any kind
  •  claiming tax relief under the Enterprise Investment Scheme or Venture Capital Trust relief
  •  a name or member of Lloyd’s of London insurance market

You must also send a tax return if your income:

  • is over £50,000 and you or your partner keep getting Child Benefit from 7 January 2013
  • is taxable but HM Revenue & Customs (HMRC) can’t collect the tax through your tax code – eg you pay a higher rate of Income Tax and have savings or investments
  • from savings and investments is £10,000 or more
  • from untaxed savings or investments is £2,500 or more
  • from property is £10,000 or more before allowable expenses , or £2,500 or more after allowable expenses
  • from selling assets like shares or property means you need to pay Capital Gains Tax on the profit
  • is from overseas and UK tax must be paid on it
  • is more than £100,000 a year

If you need help with your tax return, please contact us