Do you need to file a self-assessment tax return for 2024/25?
Posted on 21st March 2025
Friday's Fortnightly Tax Tip
As we get closer to the end of the 2024/25 tax year, it is worth checking to see whether you meet the criteria to file a self-assessment tax return. If you meet any of the below criteria, you will be required to file a tax return by 31st January 2026.
You were self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on).
You were a partner in a business partnership.
You had to pay Capital Gains Tax when you sold or ‘disposed of’ something that increased in value.
You had to pay the High Income Child Benefit Charge.
You may also need to send a tax return if you have any untaxed income, such as:
Money from renting out a property.
Tips and commission.
Income from savings, investments and dividends.
Foreign income.
If you need any tax advice in Milton Keynes give a call to the team at Holmes Accountancy on 01908 315716 or contact us here.
The tax tip is provided for general guidance only; further advice should be sought, for specific issues.
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