Self Assessment Tax Returns

Who Needs to Complete a Tax Return?

You must send a tax return if, in the last tax year (6 April to 5 April), any of the following applied:

• you were self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)

• you were a partner in a business partnership

• you earned £100,000 or more

You may also need to send a tax return if you have any untaxed income, such as:

• some COVID-19 grant or support payments

• money from renting out a property

• tips and commission

• income from savings, investments and dividends

• foreign income

Other Reasons for Sending a Return

You can choose to fill in a tax return to:

• claim some Income Tax reliefs

• prove you’re self-employed, for example to claim Tax-Free Childcare or Maternity Allowance

If You Get Child Benefit

If your income (or your partner’s, if you have one) was over £50,000, you may need to send a return and pay the High Income Child Benefit Charge.

Tax Return Services

Utopia Accounting are specialists in tax return preparation.

Whilst preparing your tax return we will also undertake a free review, considering the best use of losses and future implications, ensure all allowances are utilised to their maximum and keep you on the right side of HMRC.

We will always advise you of your liabilities and their due dates and how to pay HM Revenue & Customs.