Find Out Whether you Have to Submit an Income Tax Return #AskAMS

HMRC have a list of circumstances where a Tax Return should be submitted.

HMRC will either send you a Tax Return to complete or, you may know that you have income tax or capital gains tax to pay. 

However, HMRC have a list of further circumstances where a Tax Return should be prepared, including:

• Your income from self-employment exceeded £1,000
• You are a company director
• You received over £2,500 in rental income.  If it was between £1,000 and £2,500 you should contact HMRC
• You received more than £2,500 in other income such as tips or commission
• You received £10,000 or more before tax from savings/investments
• You made Capital Gains in excess of £11,300
• You have received dividends in excess of £10,000
• Your taxable income exceeds £50,000 and you, or your partner, receive Child Benefit
• Your taxable income exceeds £100,000.

Let AMS advise you and prepare your Tax Return - £120+VAT Contact AMS