A self-assessment tax return is normally required to be submitted to HMRC by any individual who falls into one or more of the following categories:
- Company director.
- People with more complicated tax affairs including those who pay higher rate tax.
- People who have savings/investment income of £10,000 (gross) or more.
- Pensioners with more complex tax affairs.
- People who receive rent or other income from land and property in the UK.
- Trustees and personal representatives.
- Non-resident company landlords.
Your 2015/16 self-assessment Tax return pack will be available for completion soon.
Tax Returns are issued directly to your home address on 6 April of each year. HMRC can also issue tax returns part way through the year where they become aware that one is required.
If your previous tax return was submitted online then you will not receive the actual tax return. HMRC will send you a Notice to Complete a Return (SA316). If you have not previously completed a tax return you should contact your local HMRC office and advise them that you need to be registered under self-assessment explaining why.
You must notify HMRC within 6 months following the end of the tax year (5 October) that you need to complete a tax return. This is to ensure that HMRC has enough time to issue a tax return to you and for you to complete and submit it to HMRC. Failure to notify the HMRC by this date will result in a £100 penalty.
If you receive a tax return you have to complete it, even if you pay all your tax through PAYE. A tax return is sometimes required for other reasons, for example, to check the correct tax has been paid overall. If you are sent a tax return you must fill it in and send it back even if you believe that you have no extra tax to pay. Failure to do this by the deadline of 31 January following the end of the tax year (for online filing) will result in a penalty of £100 (which could increase if the tax return remains outstanding).
Key dates regarding submission of your self-assessment tax return for 2015/2016:
31st July 2016: Second payment on account for 2015/16.
31 October 2016: If you send a paper tax return, you must send it back by this date if you want HMRC to collect tax through your tax code, if possible, where you owe less than £2,000. You must have a PAYE source of income to facilitate collection of the underpaid tax.
5 October 2016: If you have not previously completed tax returns but you know that you must complete one for 2015/16. This is the final date for notifying HMRC that you need to complete a tax return.
31 October 2016: If you have been issued a paper tax return form this is the last day you can submit it to HMRC. After the 31 October 2016 you must submit your tax return electronically.
31 December 2016: If you send back your tax return over the Internet you must send it back by this date if you want HMRC to collect tax through your tax code, if possible, where you owe less than £2,000. You must have a PAYE source of income to facilitate collection of the underpaid tax.
31 January 2017: The final date for submitting your 2015/16 tax return. Please note that tax returns submitted after the 31 October 2016 must be submitted electronically.
1 February 2017: If you were sent a tax return by 31 October 2016 you will be charged a penalty of £100 if the HMRC have not received your return by this date.
6 April 2017: This is when the new tax year starts.
Key dates regarding payment of your personal tax liability 2015/2016:
31 July 2016: If you make payments on account this is the final day by which you must make the second payment for the 2015/16 tax year.
31st January 2017: Final balancing payment due in respect of your personal tax liability for 2015/16.