Let’s be honest no one wants to complete a tax return but when your circumstances change you might need to send one of these off to HMRC and not realise it.
Most people believe that the only people who need to complete a tax return are the self-employed and in actual fact there are quite a few other groups of people who need to fill it in. Failing to send off a tax return can actually cause you to receive a nasty fine.
So if you fall into one of these groups you need to fill in a return:
- You are self employed
- You have savings and investment income
- You are a company director
- You have overseas income
- You have a high level of income
- You receive property income
- You want to claim tax reliefs or expenses
- You receive annual trust income
- You received income from a deceased person’s estate
In order to complete a tax return you must register with HMRC and receive a UTR (Unique taxpayer reference).
In order to register you will require your national insurance number along with your contact details.
You then have until the 31st of January in order to submit your tax return online