So, who must fill in a self assessment return? Do you have to complete a tax return? Well, amongst others, you’ll need to complete this annual task if:
- You are self-employed
- You are a company director (generally speaking)
- You have savings & investment income above a certain level
- You have property income above a certain level
- You receive an annual trust or have settlement income
- You have income from the estate of a deceased person.
- You have overseas income that’s liable to UK tax.
- You have a very high income
- You need to claim certain expenses or reliefs
(the list goes on)
If you need to complete a tax-return, you’ll need to register with HMRC and get a UTR (Unique Taxpayer Reference).
To register, you’ll need your National Insurance number, contact details (and details of your business, if self employed), your UTR if you have previously been issued with one. The date your circumstances changed.
You can send a tax-return on paper up to 31 October (after 5 April) and you have until 31 January (after 5 April) to submit your tax return online.
If you decide to send you tax return in online, then you need to also register for HMRC’s online services (you’ll then receive a government gateway ID and an activation pin number in the post – so allow plenty of time for these to arrive)
If you have an accountant, you can appoint them to act on your behalf and they’ll do all the forms on your behalf.
If you don’t have an accountant, but need one, call Louise on 01604 288024 or use the online form.