Determining whether a personal tax return is required is the first stage to managing your personal tax affairs

If you meet any of the criteria you must submit a personal tax return to HMRC:

  • You are a company director
  • Your income from self-employment was over £1,000
  • You received more than £2,500 from renting out a property. You must also contact HMRC if it was between £1000 – £2500
  • You received more than £2,500 in other untaxed income, for example tips or commission
  • Your income from savings or investments was £10,000 or more before tax
  • Your income from dividends was £10,000 or more before tax. You must also to tell HMRC if it was over £2,000
  • Capital gains of more than £11,700 on sale of assets during the year
  • Your income (or your partner’s) was over £50,000 and you claimed child benefit
  • You had income from abroad that you need to pay tax on
  • You lived abroad and had UK income
  • Your taxable income was over £100,000

If you are not sure whether you need to personal tax return it is always better to enquire to avoid penalties for not filing a return.

Please contact us to find out how we can help you