Do you need to complete a Self Assessment tax return this year?

If someone has had a change in circumstances, then they might need to complete their first ever Self Assessment tax return for the 2022 to 2023 tax year, HM Revenue and Customs (HMRC) is reminding people.

UK Taxpayers can use the quick and easy free online checking tool on GOV.UK and register with HMRC by 5 October if they do need to self-assess. Taxpayers can also use it if they think they may not need to complete one this year, also.

Myrtle Lloyd, who is HMRC’s Director General for Customer Services, said: “It's really important taxpayers check if they should complete a Self Assessment tax return so they can pay the right amount of tax owed and avoid penalties for not filing a return, if required. It's quick and easy to check by using the interactive tool on GOV.UK - there is no need to ring us.”

Taxpayers might need to complete a tax return if they:

Are newly self-employed and have earned over £1,000

Have multiple income sources

Have received any untaxed income, for example earning money for creating online content

Earn over £100,000 a year

Earn income from property that they own and rent out

Are a new partner in a business partnership

Are claiming Child Benefit and they or their partner have an income of over £50,000

Receive interest from banks and building societies (more than £10,000)

Receive dividends in excess of £10,000

Need to pay Capital Gains Tax

Are self-employed and earn under £1,000 but wish to pay Class 2 NICs voluntarily to protect their entitlement to State Pension and certain benefits

The online checking tool can also be used by those who may no longer need to do Self Assessment, including if they:

Gave up work or retired

Are no longer self-employed

Earn below the minimum income thresholds

If taxpayers no longer think they need complete a Self Assessment tax return for the 2022 to 2023 tax year, they should tell HMRC before the deadline on 31 January 2024 to avoid any penalties.

Taxpayers can register for Self Assessment on GOV.UK. Once registered, they'll receive their Unique Taxpayer Reference, which they will need when completing their tax returns.

HMRC has wide range of resources to help taxpayers file a tax return including a series of video tutorials on YouTube and a new step by step guide, for anyone that is filing for the first time.

Taxpayers must be aware of the risk of falling victim to scams and should never share their HMRC login details with anyone, including a tax agent, if they have one. HMRC scams advice is available on GOV.UK.