You have to file a personal self-assessment tax return when:
- You are employed and procure over £100,000 every year
- You acquire over £1,000 from self-employment
- You make over £2,500 from leasing a property
On the off chance that you have to document a tax return, you have to do it before January 31st of the year following the tax year in which you acquired that pay. The UK tax year goes from April sixth to April fifth. For example, in the event that you were independently employed between 6th April 2018 to 5th April 2019, you have until January 31st, 2020 to record a tax return. You can file a tax return in a few different ways:
- You can send a paper tax form to HMRC.
- You can go to HMRC’s site and submit one online yourself.
- You can have an accountant to do like our startup tax accountants.