Self Assessment is a system HM Revenue and Customs uses to collect Income Tax, deadlines and penalties apply.

You'll need to submit a tax return if, in the last tax year, you fall into a long list of categories and/or situations

How much tax you pay will depend on the Income Tax band you're in, with different rate's for Capital Gains Tax if you need to pay it.

If you're new to Self Assessment, you'll need to keep records (for example bank statements or receipts) so you can fill in your tax return correctly.

If you've been told to send a return:

If you get an email or letter from HM Revenue and Customs (HMRC) telling you to send a return, you must send it - even if you don't have any tax to pay.

If you used to send a tax return but don't need to send one for the last tax year, you can contact HMRC to close your Self Assessment account.

You must also tell HMRC if you've stopped being self-employed.

  1. You are/were Self Employed - You can deduct "Allowable Expenses"
  2. You received £2,500 or more in untaxed income -  for example from tips or renting out a property - contact us if it was less than £2,500.
  3. Your income from savings or investments was £10,000 or more before tax
  4. Your income from dividends from shares was £10,000 or more before tax
  5. You made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax
  6. You were a company director -  unless it was for a non-profit organisation (such as a charity) and you didn't get any pay or benefits, like a company car
  7. Your income (or your partner's) was over £50,000 and one of you claimed Child Benefit
  8. You had income from abroad that you needed to pay tax on
  9. You lived abroad and had a UK income
  10. Your taxable income was over £100,000
  11. You were a trustee of a trust or registered pension scheme
  12. You had a P800 from HMRC saying you didn't pay enough tax last year - and you didn't pay what you owe through your tax code or with a voluntary payment
  13. Your State Pension was more than your Personal Allowance and was your only source of income - unless you started getting your pension on or after 6 April 2016
  14. Certain other people may need to send a return (for example religious ministers or Lloyd's underwriters) - we can check whether you need to. You usually won't need to send a return if your only income is from your wages or pension.


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