It’s that time of year again when some of us need to submit a Self-Assessment Tax Return if you have income outside of your PAYE earnings.
Who has to do a UK tax return in January?
You may need to submit a self-assessment tax return in the UK if you:
- Are self-employed
- Have income from renting out property
- Receive income from investments, dividends, or savings interest above your personal allowance
- Are a company director
- Have income of £100,000 or more
- Receive income from abroad that you need to pay tax on
- Receive child benefit and your or your partner’s income is over £50,000
- Have made capital gains above the annual exemption
The deadline for submitting a self-assessment tax return is usually 31st January following the end of the tax year (6th April to 5th April). However, the specific requirements and deadlines can vary, so it’s best to check your personal situation.
Are you being overcharged for your Tax Return?
Your trusted and efficient team at Quickpaye can process your return for you from £225 +vat (for a basic return). We offer this service to all our valued clients, old and new and for the rest of November if you book Quickpaye to complete your self assessment tax return for you, and then recommend us to someone else, you will receive an Amazon voucher for £35 just in time for Christmas.