Do I need to complete a Self Assessment tax return?
A simple guide to common tax problems
Why I might need to complete a self-assessment tax return
Here are some of the reasons you may need to complete a tax return:
- You are an employee but want to claim tax relief on expenses of more than £2,500 per year
- You let property or a room in your home and receive income from renting (above certain limits each year)
- You have taxable foreign income from overseas savings, investments, pensions or employment
- You are self employed and have an income of more than £1,000 per year, this includes any money you earn at the weekend cash in hand.
- You are an employee but didn’t pay the correct amount of tax through your tax code
- You are not a UK resident but receive property income in the UK
- You have income from savings and investments of more than £10,000
- You work in a business as a partner
- You or your partner receive child benefit and your income is over £50,000
But, even if none of the above applies to you if HMRC has sent you a letter stating you need to complete your self-assessment you may still need to complete it. If this is the case you should contact HMRC to find out why they sent you this return.