There are a number of reasons why you may need to register with HMRC to submit a tax return. This could include:
- if you are self-employed and earning more than £1,000 per year from the self-employed activity,
- if you are a company director,
- if you have an annual income over £100,000 and / or if you have certain income from savings, investment or property.
And see HMRC’s list of criteria to file set out below.
If you need to complete a tax return for the first time you should inform HMRC as soon as possible. The latest date that HMRC should be notified is by 5 October following the end of the tax year for which a return needs to be filed. For example, if you had income that necessitated you registering for Self Assessment in the 2018-19 tax year, you need to notify HMRC by 5 October 2019.
HMRC has published a check list of reasons that you may be required to submit a Self Assessment return. The list includes the following:
- If you are self-employed;
- If you had £2,500 or more in untaxed income;
- Have savings or investment income of £10,000 or more before tax;
- If you have made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax;
- If you are a company director – unless it was for a non-profit organisation (such as a charity) and you didn’t get any pay or benefits, like a company car;
- If your income (or that of your partner’s) was over £50,000 and one of you claimed Child Benefit;
- If you had taxable income from abroad;
- If you lived abroad and had a UK income; or
- If your income was over £100,000.
- In certain limited circumstances HMRC can also ask you to complete tax returns for other reasons.