FAQ: Who needs to complete a tax return?

Individuals

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

Partnerships

All partnerships need to complete a partnership tax return.

Companies

All companies need to complete a company tax return and file accounts with Companies House.

UK Trusts

All trusts need to complete a trust tax return.