Self Assessment Tax Returns
Self Assessment is a system HM Revenue and Custom uses to collect Income Tax.
Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return.
If you need to send one, you fill it in after the end of each tax year ended 5 April.
Tax returns prepared by us will be submitted on-line.
Send your tax return by the deadline of the following 31 January if you file on-line.
If you didn't send an on-line return last year, allow extra time (up to 20 working days) as you’ll need to register first.
Paying your bill
HMRC will calculate what you owe based on what you report.
Pay your Self Assessment bill by 31 January (or 30 December if you want HMRC to collect tax automatically from your wages or pension).
How much tax you pay will depend on the Income Tax band you’re in. There’s a different rate for Capital Gains Tax if you need to pay it, e.g. you sell shares or a second home.
Who must send a tax return
The tax year is from 6 April to 5 April the following year.
You’ll need to send a tax return if, in the last tax year:
- you were self-employed - you can deduct allowable expenses
- you got £2,500 or more in untaxed income, eg from renting out a property or savings and investments
- your savings or investment income was £10,000 or more before tax
- you made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax
- you were a company director - unless it was for a non-profit organisation (e.g. a charity) and you didn't get any pay or benefits, like a company car
- your income (or your partner’s) was over £50,000 and one of you claimed Child Benefit
- you had income from abroad that you needed to pay tax on
- you lived abroad and had a UK income
- you got dividends from shares and you’re a higher or additional rate taxpayer - but if you don’t need to send a return for any other reason,contact the helpline instead
- your income was over £100,000
- you were a trustee of a trust or registered pension scheme
Certain other people may need to send a return (e.g. religious ministers or Lloyd’s underwriters) - you 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.
If you get an email or letter from HM Revenue and Customs (HMRC) telling you send a return, you must send it - even if you don’t have any tax to pay.
Claiming tax relief
Fill in a tax return to claim money back from HMRC for:
- work expenses over £2,500 - if they’re less and you don’t need to send a return for any other reason, contact the helpline instead
- private pension contributions as a higher or additional rate taxpayer, or if your scheme isn't set up for automatic tax relief
- donations to charity
- Registering for Self Assessment
- You need to register if you didn't send a tax return last year. How you do this depends on whether:
- you’re self-employed
- you need to send a return for another reason
- If you’re new to Self Assessment, you’ll need to keep records so you can fill in your tax return correctly.