If you\u2019re a sole trader or the director of a limited company, then it\u2019s likely that you\u2019ll have to file a tax return. <\/p>\n\n\n\n
Once you start earning over a certain amount, you\u2019ll be required by law to complete what\u2019s known as a Self Assessment<\/a>. HMRC will need to know how much you earned, even if the money you earn falls below various tax allowances that you’re claiming. <\/p>\n\n\n\n There are a few exceptions to this rule. But generally, if you\u2019re earning money outside full-time employment, prepare yourself to have to complete Self Assessment. Take a look at our guide below on everything you need to know about tax returns.<\/p>\n\n\n\n As a general rule, if you earn more than \u00a31,000 of untaxed income during a tax year, you will have to do a tax return.<\/p>\n\n\n\n Most working people in the UK pay all their tax \u2018at source,\u2019 through what\u2019s known as Pay As You Earn<\/a> (PAYE). This tax is automatically deducted from your wage before you receive your monthly\/weekly payment from your employer. <\/p>\n\n\n\n If this is you, it\u2019s unlikely you\u2019ll have to complete a Self Assessment tax return. But<\/em>, there are a few exceptions to this as we\u2019ll explain below. <\/p>\n\n\n\n If you fall into one of the following categories, you\u2019ll almost always have to file a tax return:<\/p>\n\n\n\nSo how much do I need to earn to file a tax return?<\/h2>\n\n\n\n
How will I know if I need to file a tax return?<\/h2>\n\n\n\n
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