Self-Assessment

A self-assessment tax return is normally required to be submitted to HMRC by any individual who falls into one or more of the following categories:

  • Company director.
  • People with more complicated tax affairs including those who pay higher rate tax.
  • People who have savings/investment income of £2,500 which hasn’t been taxed.
  • People who have savings and investments that has been taxed and was £10,000 or more before they paid tax on it.
  • Pensioners with more complex tax affairs.
  • People who receive rent or other income from land and property in the UK (if trading income and property income is less than £1,000 in 2017/18 and going forward, there is no requirement to report this on your self-assessment return).
  • Trustees and personal representatives.
  • Non-resident company landlords.

Brookson customers

Your 2016/17 self-assessment Tax return pack will be available for completion soon.

Tax Returns are issued directly to your home address on 6 April of each year. HMRC can also issue tax returns part way through the year where they become aware that one is required.

If your previous tax return was submitted online, then you will not receive the actual tax return. HMRC will send you a Notice to Complete a Return (SA316). If you have not previously completed a tax return you should contact your local HMRC office and advise them that you need to be registered under self-assessment explaining why.

You must notify HMRC within 6 months following the end of the tax year (5 October) that you need to complete a tax return. This is to ensure that HMRC has enough time to issue a tax return to you and for you to complete and submit it to HMRC. Failure to notify the HMRC by this date will result in a £100 penalty.

If you receive a tax return you have to complete it, even if you pay all your tax through PAYE. A tax return is sometimes required for other reasons, for example, to check the correct tax has been paid overall. If you are sent a tax return you must fill it in and send it back even if you believe that you have no extra tax to pay. Failure to do this by the deadline of 31 January following the end of the tax year (for online filing) will result in a penalty of £100 (which could increase if the tax return remains outstanding).

Key dates regarding submission of your self-assessment tax return for 2016/2017:

31st July 2017: Second payment on account for 2016/17.
31 October 2017: If you send a paper tax return, you must send it back by this date if you want HMRC to collect tax through your tax code, if possible, where you owe less than £2,000. You must have a PAYE source of income to facilitate collection of the underpaid tax.
5 October 2017: If you have not previously completed tax returns but you know that you must complete one for 2016/17. This is the final date for notifying HMRC that you need to complete a tax return.
31 October 2017: If you have been issued a paper tax return form this is the last day you can submit it to HMRC. After the 31 October 2017 you must submit your tax return electronically.
31 December 2017: If you send back your tax return over the Internet you must send it back by this date if you want HMRC to collect tax through your tax code, if possible, where you owe less than £2,000. You must have a PAYE source of income to facilitate collection of the underpaid tax.
31 January 2018: The final date for submitting your 2016/17 tax return. Please note that tax returns submitted after the 31 October 2017 must be submitted electronically.
1 February 2018: If you were sent a tax return by 31 October 2017 you will be charged a penalty of £100 if the HMRC have not received your return by this date.
6 April 2018: This is when the new tax year starts.

Key dates regarding payment of your personal tax liability 2016/2017:

31 July 2017: If you make payments on account this is the final day by which you must make the second payment for the 2016/17 tax year.
31st January 2018: Final balancing payment due in respect of your personal tax liability for 2016/17.

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