Do you need to file a self-assessment tax return ?

Another tax year has ended, and it might be you’re thinking about whether you need to file a self-assessment tax return. 

In summary, this will apply to you if: 

• You were self-employed as a sole trader in the last tax year (6 April 2023 to 5 April 2024) and earned more than £1,000
• You were a partner in a business partnership, or a director of a limited company and your income was not taxed at source, or you have further tax to pay
• You may still need to send a return if you work in specific sectors, were paid more than £100,000 via a PAYE salary scheme, or have any other untaxed income, from sources such as:
  • Renting
  • Tips and commission
  • Savings, investments and dividends
  • Foreign income

Filing a tax return can also be helpful to claim some income tax relief or to prove you are self-employed, ,when for example, claiming maternity allowance or tax-free child care.

HMRC has a handy tool to help determine whether you need to file a self-assessment tax return: https://www.gov.uk/check-if-you-need-tax-return.

Help and advice

If you’re unsure whether you need to file a return, or you’d like help doing this, please get in touch.