Self Assessment TAX
Make sure you meet the January 31st deadline and avoid the late penalty fees
A self assessment tax return is required to be completed by:
- Company directors
- Self-employed as a 'sole trader' and earned more than £1,000
- A partner in a business partnership
- Landlords or people who receive other income from land and property in the UK – this includes non-resident company landlords
- Individual receiving dividends, or other income that is not taxed at source
- Individuals earning over £100k
- Your income from savings or investments was £10,000 or more before tax
- If you claim child benefit and your income or your partners is over £50,000 you may need to send a return in and pay the high income child benefit charge.
- You received a P800 from HMRC saying you did not pay enough tax last year
- If you earn over £50,001 in the 2019/20 tax year and make pension contributions you may have to complete an assessment to claim back the extra tax relief you’re owed
- You need to pay Capital Gains Tax on profits from selling things like shares or a second home
- You have income from abroad you need to pay tax on, or you live abroad but have an income in the UK
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