When Do You Need to Send a Tax Return to HMRC?

Filing a tax return can feel a bit daunting, but it’s an important part of staying on top of your finances. To help make things clearer, let’s go through the situations when you’ll need to send a Self Assessment tax return to HMRC in the UK.

Who Needs to Send a Tax Return?

You might need to file a tax return if any of the following apply to you:

• Self-Employed or a Sole Trader:  If you’re self-employed or run your own business, you’ll need to report your income and expenses to HMRC. This applies even if your earnings are below the tax-free threshold.
• High Earner If your income is over £100,000 a year: you must send a tax return, regardless of your employment status.
• Earn More Than £50,000 and Claim Child Benefit: If you or your partner earn more than £50,000 and claim Child Benefit, you may need to pay the High Income Child Benefit Charge, which requires a tax return.
• Rental Income: If you earn income from renting out property, you’ll likely need to report it. This includes letting a room in your home for more than the tax-free allowance (£7,500 under the Rent-a-Room scheme).
• Capital Gains: Have you sold assets like shares, a second property, or other valuable items? If so, you may need to report and pay Capital Gains Tax.

Other Income This includes income from:

• Investments, dividends, or savings not already taxed
• Foreign income
• Tips or commission
• You’ve Received a Request If HMRC sends you a notice to complete a Self Assessment, you must do so—even if you believe you have no tax to pay.

When Don’t You Need to File a Tax Return?
If your income is solely from PAYE employment and you’ve paid the right amount of tax, you likely won’t need to file a return. However, always double-check if you have other sources of income or special circumstances.

Key Dates to Remember

5 October: Register for Self Assessment if you’ve never sent a return before.

31 October: Deadline for paper tax returns.

31 January: Deadline for online tax returns and any tax owed for the previous year.

How We Can Help

If you’re unsure whether you need to send a tax return or need help filing one, we’re here to make the process as smooth as possible. We’ll guide you through the rules, ensure you claim all allowable expenses, and make sure everything is submitted on time.

Reach out to us for a stress-free tax season!