Sizer & Co Accountants

It is your responsibility to tell HM Revenue & Customs if you need to complete a tax return.

You will need to complete a tax return if you are:

• self-employed
• a company director
• a minister of religion
• a name or member of Lloyd's
• a trustee
• receiving foreign income 

You will also need to complete a tax return if your income is above a certain level:

• £100,000 or more
• £10,000 or more income from savings and investments
• £2,500 or more income from untaxed savings and investments
• £10,000 or more income from property (before deducting allowable expenses)
• £2,500 or more income from property (after deducting allowable expenses)

Other circumstances in which you will need to complete a tax return are:

• You're 65 and receive a reduced age-related allowance
• You need to claim certain expenses or reliefs above £2,500
• You have Capital Gains Tax to pay
• You've lived or worked abroad or aren't domiciled in the UK

If you have received a tax return you must complete it. 

If you ignore the return you will automatically receive penalties for not filing the return on time.