Self assessment December 2016

HMRC uses self-assessment to collect tax from individuals who run their own businesses or if they receive income that is not taxed through PAYE.

The individuals who have to submit a self-assessment tax return fall into a number of diverse circumstances including:

  • being self-employed
  • having savings or investment income above £10,000 before tax
  • receiving £2,500 or more in untaxed income (for example renting out property)
  • being liable for capital gains tax
  • being a company director (unless it was for a not for profit-organisation or charity and you were unpaid and did not receive any benefits from the organisation).

We can help you understand whether you need to complete a self-assessment tax return.

2016_12_02_crozierjonespwp_apu_dec16_self-assessment.pdf211 KB