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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I WANT TO KNOW IF ARE REQUIRED TO DO A TAX RETURN.ARE THERE

Customer Question

I WANT TO KNOW IF ARE REQUIRED TO DO A TAX RETURN.ARE THERE ANY EXEMPTIONS
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

There are exemptions ..

Basically, you would have to file a tax return (self assessment tax return) if the following apply to you
- you are self employed
- you are employed and received employment related benefits
- your income is over £100,000 in a tax year
- income from UK property or land £2,500 or more after deducting allowable expenses
- income from UK property or land £10,000 or more before deducting allowable expenses
- income of £2,500 or more that hasn't been taxed (interest, tips, commission)
- income from savings and investments that have been taxed and was £10,000 or more gross
- you expect to pay capital gains tax

You can carry out a check if you need to fill in a self assessment tax return by going through steps here

https://www.gov.uk/check-if-you-need-a-tax-return/y/director-of-a-non-profit-organisation-eg-a-charity-who-doesn-t-get-any-pay-or-benefits-like-travel-expenses-or-a-company-car

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.