Personal Taxation

You must submit a Personal Tax return if, in the last tax year (6 April 2024 to 5 April 2025), you were:

• self-employed as a ‘sole trader’ and earned more than £1,000
• a partner in a business partnership

We will require the following information, in order to complete your tax return, original documents where possible.

• P60
• Any P11d benefits
• Property income
• Savings income (even if less than £1,000)
• Capital gains
• Pensions
• Dividend vouchers
• Sole trader accounts
• CIS deduction statements (if self employed)
• Student loan statement
• Child benefit figure received
• Non-resident information

If you are registered on our Online portal, through Accountancy Manager, we will be uploading a new custom form to make giving us this information quicker and easier.

You have until 11.59pm on 31^st January 2024 to submit your online self assessment tax return for the 2022/23 tax year, which ended on 5^th April 2022, to HMRC. This is also the deadline to pay any tax due. If you miss the deadline you will be fined £100. This applies even if you don’t owe any tax or are due a refund!

You’ll need to submit a tax return if, in the last tax year:

• you were self-employed
• you got £2,500 or more in untaxed income, eg from renting out a property or savings and investments
• your savings or investment income was £10,000 or more before tax
• you made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax
• you were a company director – unless it was for a non-profit organisation (eg a charity) and you didn’t get any pay or benefits, like a company car
• your income (or your partner’s) was over £50,000 and one of you claimed Child Benefit
• you had income from abroad that you needed to pay tax on
• you lived abroad and had a UK income
• you got dividends from shares and you’re a higher or additional rate taxpayer – but if you don’t need to send a return for any other reason, contact the helpline instead
• your income was over £100,000
• you were a trustee of a trust or registered pension scheme

Harmonea Ltd can submit your tax return for you but don’t leave it to the last minute!

Want to insure you have paid sufficient NI and will get the full state pension?   HMRC have created a link where you can very quickly get an overview and all the information you need.  Just follow https://www.gov.uk/check-state-pension