Do you need to do a Self Assessment Tax Return?
You may think not but HM Revenue and Customs has recently published information entitled, “should I be in Self Assessment?”. If you answer yes to any of the following questions then according to HMRC you have to complete a tax return for the tax year ended 5 April 2012:
Were you self employed or a partner in a business at any time in the year?
Were you a company director?
Did you receive income over £100,000?
Did you receive more than £10,000 in savings and investment income?
Did you receive more than £2,500 in untaxed income?
Did you receive income from letting out property?
Did you receive foreign income liable to UK tax?
Are you an employee claiming expenses or professional subscriptions of £2,500 or more?
Well if you think the above applies, why not get in touch with ourselves for a friendly free initial consultation. We can carry out a review of your tax position and assist in the filing of a self assessment if this is required.
Buick & Co Chartered Tax Advisers and Tax Consultants take no responsibility whatsoever for this blog, its reliability or any actions you take having read it.