Self assessment tax return form SA100; is the latest

UK residents must file a tax return

  • If any of the following apply:
  • HM Revenue & Customs request.
  • Property rentals, including loss making or break-even property rentals up to tax year 2015/16.
  • Property rentals, 2016/17 onwards profits in excess of the Micro entrepreneurs allowance £.
  • Self employed sole trader income, including loss making or break-even commercial activities up to tax year 2015/16.
  • Self employed sole trader 2016/17 onwards profits in excess of the Micro entrepreneurs allowance £.
  • Partnership - if you are in a business partnership.
  • Overseas; offshore; income arising abroad including interest on bank accounts.
  • Capital gains realized from sales; including capital gains abroad.
  • Capital losses - you need to make a claim of Capital losses to have them available for setoff against future capital gains.
  • Director of a company
  • unless both:
  • charitable company and
  • you derive no income.
  • Annual income will exceed £100,000 in total.
  • Trust or settlement income.

You may need to file a tax return

  • If either of the following apply:
  • Bankruptcy or Individual Voluntary Arrangement IVA: for the year in which you were declared bankrupt or entered into a voluntary arrangement IVA.
  • Receiving Child Benefit if you or your partner's annual income is more than 50,000.

New high penalties apply even to nil returns

  • Late filing penalties £100 to £1,600.
  • In addition where tax is payable.
  • Plus tax geared penalties up to or more than 100% of tax.
  • Plus late payment penalties up to 15% of tax.

You need to check NOW with HMRC if you are not sure.

Please contact us about your Self assessment tax return form SA100