If you are unsure if you need to submit a Self Assessment tax return, get in touch with us for help. We work with clients in West London, including Acton, Hammersmith, Chiswick, Ealing, Hanwell and any surrounding areas and have experience in all accounting matters.
You can also check HMRC’s online tool to check if you have to return your tax assessment.
Normally, you need to complete tax return if:
- are newly self-employed and have earned more than £1,000
- have multiple sources of income
- have received any untaxed income, for example earning money for creating online content
- earn more than £100,000 a year
- earn income from property that they own and rent out
- are a new partner in a business partnership
- are claiming Child Benefit and they or their partner have an income above £50,000
- receive interest from banks and building societies (more than £10,000)
- receive dividends in excess of £10,000
- need to pay Capital Gains Tax
- are self-employed and earn less than £1,000 but wish to pay Class 2 NICs voluntarily to protect their entitlement to State Pension and certain benefits
If you are not sure if you fall under one or more of these categories, contact us – we are waiting to hear from you for friendly, jargon-free advice.