As a UK tax resident not everyone in the UK has to lodge a UK Tax Return with HM Revenue & Customs.
The UK tax year runs from 6th April to 5th April. If you are:
- self-employed as a ‘sole trader’ and/or earned more than £1,000
- a partner in a business partnership
- earning greater than £150,000pa
- foreign sourced income greater than £2,000pa
- have a liability to UK Tax
You will need to register for self assessment and lodge a UK Tax Return. If your only source of income is from wages or pension you may not need to do a tax return unless you do have a liability to pay tax. You may need to lodge a tax return if you have any other untaxed income, such as:
- Income from renting out a property (UK or Overseas).
- Tips, commission and royalties.
- Income from savings, investments and dividends.
- Foreign/Overseas sourced income.
