Personal Tax Return

You may need to complete a personal tax return if any of the follow apply:-

• If your income exceeds £100,000 in that tax year
• If you have income from UK property or land
• Income of £2,500 or more that hasn’t been taxed, eg from savings, investments, tips, commission
• If you have sold or given away an asset like shares or holiday home
• You received dividends
• Income from overseas
• If you or your partner claimed child benefit, when wither of your income was above £50,000

What you are required to do:

• Register as self-employed with HM Revenue and Customs (HMRC) to make sure you pay the correct Income Tax and National Insurance
• Complete yearly tax return
• Depending on your circumstances can depend on if you have tax to pay.

With the support of Petra Accounting these tasks become minimal. The Basic price for this package is a one off price of £200 This will vary depending how complex your personal tax situation is.