FAQ: Who needs to complete a tax return?
The most common reasons that you need to complete a tax return are:
- You are self employed
- You are a partner in a partnership
- You have income from savings and investments of £10,000 or more per year
- You have untaxed income of £2,500 or more per year
- You have income from property
- You receive income from, or you benefit from, a trust
- You have income from overseas
- Your annual income is £100,000 or more per year
- Your income (or your partner’s) is over £50,000 per year and one of you claims Child Benefit
- You have sold, given away or otherwise disposed of an asset such as a second home, or shares, etc.
- You live abroad but receive UK income
All partnerships need to complete a partnership tax return.
All companies need to complete a company tax return and file accounts with Companies House.
All trusts need to complete a trust tax return.