Personal Tax Return
An individual tax return is a shape that you as a citizen now and then have to yield to HMRC to pronounce your wage and how much assess you ought to pay (or now and then get back from HMRC as a Tax discount).
When you require to record a individual assess return:
✅ If you’re utilized and earned over £150,000 per year (until 2024/25)
✅ If you earned over £1,000 from self-employment
✅ If you made over £2,500 from leasing out a property
There are parcels of other reasons why you’d require to record a individual assess return. Here’s a total list.
If you require to record a charge return, the due date is January 31st of the year taking after the charge year in which you earned that salary. The UK assess year is from April 6th to April 5th.
For case, if you were self-employed between April 6th 2024 to April 5th 2025, you have until January 31st 2026 to record a assess return.
You can record a assess return in a few ways:
✅ Send a paper assess return to HMRC
✅ Go to HMRC’s site and yield one online yourself
✅ Have utilize an individual bookkeeper to record for you
✅ Use an assess return benefit like Taxaccountants