UK Self Assessment Tax Return guide..
Here are some of the most common reasons for filling in a tax return as listed below. Please note that the list is not exhaustive.
If you are self-employed you always have to complete a tax return.
You are a higher-rate tax payer receiving taxable income besides your PAYE employment.
You receive income from property rental as well as from employment or other sources.
Your only income is above a certain level from savings, investment or property as set out below.
•£10,000 or more income from savings and investments
•£2,500 or more income from untaxed savings and investments
•£10,000 or more income from property (before deducting allowable expenses)
•£2,500 or more income from property (after deducting allowable expenses)
You are a company director (unless you’re a director of a non-profit organisation, for example a charity, and don’t receive any payments or benefits)
Your annual income is £100,000 or more.
If you receive total income of £100,000 or more you’ll need to complete a tax return. You may have higher or additional rate tax to pay that hasn’t been collected through your tax code.
If you are employed and want to claim for expenses or professional subscriptions of £2,500 or more, you’ll need to complete a tax return. You can just write to HM Revenue & Customs (HMRC), with full details, if you want to claim expenses below this amount.
You have Capital Gains Tax to pay
How to get a tax return
You need to register for Self Assessment before you can get a tax return.This is a service here at KWA Tax Returns Online that we can provide free of charge.
HMRC will use the information you provide to set up the right records for you and will send you a Unique Taxpayer Reference. (UTR) You will then receive a letter each year, usually in April, telling you to complete your tax return.
If you have registered for Self Assessment, received your Unique Taxpayer Reference but have not received a letter telling you to complete a tax return by the end of April, you should get in touch with HMRC or contact us.
KWA Tax Returns Online – Our service
Completing your Tax Return correctly, without hassle, may not be an easy task and also can be time consuming. For just £99.00 we can prepare and file your Tax Return for you without any fuss. Simply provide us with the information we ask for then leave the rest to us.