A self-assessment tax return is normally required to be submitted to HMRC by any individual who falls into one or more on the following list:
Company director
- People with more complicated tax affairs including those who pay higher rate tax
- People who have savings/investment income of £2,500 which hasn’t been taxed
- People who have savings and investments that has been taxed and was £10,000 or more before they paid tax on it
- Pensioners with more complex tax affairs
- People who receive rent or other income from land and property in the UK (if trading income and property income is less than £1,000 in 2019/20 and going forward, there is no requirement to report this on your self-assessment return)
- Trustees and personal representatives
- Non-resident company landlords
- You have annual income of £100,000 or more before tax
- You or your partner receive child benefit and your income is over £50,270. This is because of the high income benefit charge
- If you have taxable capital gains in excess of the annual allowance of £12,300.