Guide

Do I need to file a Self-assessment Tax Return

December 15, 2022
This guide was last updated on:
January 11, 2023

Most people who are employed are taxed at source through PAYE, but there are circumstances where you are required to file a self assessment.  These include:

  • HMRC requests you to do so.  You will receive a notice from HMRC if they require you to file a self assessment
  • If you have earnings that are not taxed at source.  These sources of income include:
  1. Rental income over £2,500
  2. Self employment income over £1,000
  3. Investment profits over £12,000
  4. Savings interest over £12,000
  5. Dividend income over £12,000
  6. Foreign income
  7. Any other income over £2,500
  • If you want to claim a tax rebate.  There are a variety of situations whereby you wish to claim for a rebate, including:
  1. Working in the Construction industry using the CIS Scheme
  2. If you have donated to charity
  3. If you have unclaimed work expenses over £2,500
  4. If you have made private pension contributions and you pay tax at the high rate
  • In order to qualify for benefits.  You may need to prove that you are self employed in order to qualify for Maternity Allowance or Tax Free Childcare
  • If you are a director of a limited company and you pay yourself dividends of £10,000 or greater
  • There are many other less common circumstance when you may be required to file a self assessment, including:
  1. You live outside of the UK and had income from the UK
  2. You earn over £100,000
  3. You are in a partnership
  4. You are a trustee
  5. You or your partner earn over £50,000 and you received Child Benefit
  6. You are a name at Lloyds of London
  7. You are a minister of religion

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