16) Do I Have To File A Personal Tax Return?

You can see the most common reasons for needing to fill in a tax return below.

You’re self-employed

If you’re self-employed (including being a member of a partnership) you have to complete a return each year.

You’re a company director, minister, Lloyd’s name or member
You must complete a return if you’re any of the following:

  • 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)
  • a minister of religion (any faith)
  • a name or member of Lloyd’s

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.

You have income from savings, investment or property
If you are an employee or a pensioner and already pay tax through a PAYE code, you can sometimes ask for tax that you owe on income, such as savings and property, to be collected through your code number. You’ll need to complete a tax return instead if the income you receive is:

  • £10,000 or more from taxed savings and investments
  • £2,500 or more from untaxed savings and investments
  • £10,000 or more from property (before deducting allowable expenses)
  • £2,500 or more from property (after deducting allowable expenses)

You’re 65 and receive a reduced age-related allowance
If you receive a reduced age-related allowance, you’ll usually need to complete a return if your income is over a certain level (£24,000 for the 2011-12 tax year, and £25,400 for the 2012-13 tax year). But there are exceptions, for example if your tax affairs are very straightforward.

You’ve lived or worked abroad or aren’t domiciled in the UK
Residency is a complex issue speak to a member of our team to discuss your options further.

You have Capital Gains Tax to pay
If you have Capital Gains Tax to pay, for example you’ve sold, given away or otherwise disposed of an asset such as a holiday home or shares, you’ll need to complete a tax return and the Capital Gains Tax pages.

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