Every year, approximately 11 million people complete a self assessment tax return. Taxpayers can complete their 2019-20 tax return at any time up to the deadline but HMRC recommends completing it early to allow them time to pay their tax bill or set up a payment plan.

The majority of people choose to complete their tax return online, which provides an immediate calculation of any tax owed.

If you are completing a paper tax return have until 31 October 2020 to send their completed form to HMRC.

Taxpayers must complete a self assessment return if:

  • they have earned more than £2,500 from renting out property;
  • they have received, or their partner has received, Child Benefit and either of them had an annual income of more than £50,000;
  • they have received more than £2,500 in other untaxed income, for example from tips or commission;
  • they are a self-employed sole trader whose annual turnover is over £1,000;
  • they are an employee claiming expenses in excess of £2,500;
  • they have an annual income of over £100,000; or
  • they have earned income from abroad that they need to pay tax on.