Personal Income Tax

Personal Income Tax Return Forms are completed on an annual basis and detail the income received by you for the period from 6th April to the next 5th April.

When do I require to complete an Income Tax Return Form?

You may also require to complete a Tax Return Form if:

  1. You wish to claim tax reliefs i.e., pension contributions, charitable donations.
  2. If you are in receipt of Child Benefit and either your own or partners (if applicable) annual income exceeds £50,000. The High Income Child Benefit Charge will require to be paid to HMRC.

Income Tax Return Forms should be submitted to HMRC by 31st October (in paper form) following the end of the tax year or by 31st January (online).

You may require to make payments to account in respect of your tax liability if the liability for the previous year was more than £1,000.

HMRC have also recently introduced legislation with regard to the disposal of a property which is not your principal private residence. If a gain has been made and is in excess of the annual Capital Gains Tax Allowance, you are required to report this to HMRC within 30 days of the date of completion of the settlement and make payment of any tax due. The payment will be regarded as a payment to account and taken into account at the end of the relevant tax year.

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