Who needs to file a tax return? Find out here – TaxScouts |
您所在的位置：网站首页 › complete and file a return › Who needs to file a tax return? Find out here – TaxScouts |
|
Most people in the UK do not need to file a tax return because any taxable income they have is taxed through a system called PAYE (paye as you earn). However, there are a few situations where you’ll be required to complete a Self Assessment, also known as a personal tax return. Read more to find out what these situations are. 1. If you have any untaxed income You’re self-employed and earned more than £1,000 You earn rental income over £1,000 If you made over £6,000 in profit from investments – usually property or stocks; gains from shares in an ISA don’t count. You’ll have to use HMRC’s Real Time Capital Gains Tax Service if you sell property instead of filing a tax return You earned more than £10,000 from savings interest – also not from savings within a cash ISA You received more than £10,000 from dividends – also not from a stocks & shares ISA You’re earning foreign income You have any other sort of untaxed income more than £1,000 2. You want to claim a tax refundIn some cases, you may have to submit a tax return to claim a refund if you’ve paid too much income tax. Here are some examples: You work in the construction industry through the CIS scheme You’ve made investments in SEIS or EIS eligible startups or VCT funds You’ve made donations to charity You made private pension contributions as a higher rate taxpayer You had work expenses over £1,000 3. HMRC tells you to submit oneSometimes HMRC may decide you need to file a tax return. They’ll usually let you know by: Sending you a P800 form Sending you a notice to file a tax returnThis could be for any reason, but some of the most common reasons are: You didn’t de-register from self assessment so HMRC are still expecting a tax return from you You’ve paid too little tax You have any untaxed income that cannot be collected through PAYE 4. You qualify for benefitsIn some cases, you may have to file a Self Assessment tax return if you quality for benefits, i.e: You need to prove you’re self-employed to claim Maternity Allowance or Tax-Free Childcare You want to make voluntary Class 2 National Insurance contributions and qualify for benefits 5. Other situations Your income is over £100,000 (even if you’ve already paid tax via PAYE) You live abroad and had income from the UK You claimed Child Benefit and your or your partner’s income was over £50,000 (this is called high income child benefit charge) You’re in a partnership You are a minister of any religion You are a trusteeYou’re a ’name’ at the Lloyd’s of London I’m a director of a limited company – do I still need to file a personal tax return?In this case, you’ll only need to complete a tax return if you paid yourself dividends over £10,000. Otherwise, you’re no longer required to file a personal tax return. However, you still need to make sure that your company submits a corporate tax return. |
| CopyRight 2018-2019 办公设备维修网 版权所有 豫ICP备15022753号-3 |