30/09/2025
Who needs to file a Self Assessment Tax Return?
A taxpayer is required to file a tax return for a tax year if they meet any of the criteria for that tax year.
These include the following for 2024/25 based on HMRC’s guidance:
- PAYE income threshold of £150,000 for 2023/24, up from
£100,000 for 2022/23.
- Self-employment income over £1,000.
- Rental income over £2,500 net or £10,000 gross.
- Income from savings or investments over £10,000.
- Income from dividends over £10,000.
- Other untaxed income of £2,500 or more.
- Claims for tax relief for employment expenses of
more than £2,500.
- Liability to the high income child benefit charge (HICBC),
if the client is not using the new HICBC PAYE service.
- Capital gains in excess of £3,000 or if the value of the
assets disposed of are in excess of £50,000. Capital
gains tax changes (CGT) for 2024/25, including the
in-year rate change and the reduction of the CGT-free
annual exemption to £3,000 (this will be discussed in
more depth in a later article in the series).
Need help? We’ll guide you through it.
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