The 2018-19 tax season is in full-swing and tax payers can now file there returns ahead of the 31st January 2020 deadline. It is advised by the HMRC to get tax returns filed as early as possible, to ensure that the deadline is met. As an added incentive to taxpayers, we, at Bambridge Accountants, offer a discount to those who file between April and August 2019.
This article is focused on helping you find out if you are required to file a tax return.
There are a number of reasons why you may need to file a tax return. You will have to file a tax return for 2018-19 if you were:
Self-employed as a sole trade and earned over £1000 during the tax year
A partner in a business partnership
If the only income you received during the tax year is your pension or salary it is unlikely that you will be required to file a tax return. However if you have other incomes, such as the listed below, you may be require to file a tax return.
Tips and commission
Income from savings, investments or dividend
Other reasons for filing a tax return is to service the purpose of claiming back expenses or reliefs.