A Self Assessment Return
A Self Assessment Return reports your personal income and expenses to HMRC, ensuring you pay the correct amount of tax. It's required for sole traders, company directors, and individuals with untaxed income.
Who needs to file a Self Assessment?
If any of the following apply to you, you must file a Self Assessment tax return:
- You have rental income
- You're self-employed
- You have income not taxed at source
- Your annual income exceeds £150,000 before tax
- You or your partner receive child benefit and your adjusted net income is over £60,000
- You have capital gains to declare
- You've made significant personal charitable donations or pension contributions
- You receive foreign income
- You're a non-UK resident with taxable income in the UK