How do you know if you need to complete a self-assessment tax return?

Tiglath

I earn £55k + annual bonus of around £4-5k. I pay tax through PAYE and don't have any other income. Can I just confirm that my understanding of the HMRC rules is correct ie. I don't need to complete a self-assessment tax form because I earn less than £100k, have no other income, and PAYE covers my tax requirements? I don't tick any of the other 'qualifying' boxes such as receiving Child Benefit, needing to claim expenses, being a company director etc.

My boss (who not surprisingly earns much more than me - over £100k is feasible at her level) has to complete forms. I know she has no other income, so I just want to make sure I'm doing all I should; I don't want to find out I've mistakenly missed out on something I should be doing. Thanks

Davide123

Do you have a partner who receives child benefit?

Tiglath

No, no benefits at all, and he's a higher-rate taxpayer like me.

Davide123

Then don't see any reason you need to, all paye under 100k and no other Income

Tiglath

Thanks - that's what I thought but it's good to set my mind at rest.

Mikeyorks

The criteria is faily well covered by HMRC here :-

http://www.hmrc.gov.uk/sa/need-tax-return.htm?WT.ac=SA_%20DYNTR

CLAPTON

Tiglath wrote: »

No, no benefits at all, and he's a higher-rate taxpayer like me.

one is surprised that you have no taxable savings interest
if you did you would need to declare to HMRC as you would owe tax but you wouldn't normally have to complete a self assessment form

Tiglath

CLAPTON wrote: »

one is surprised that you have no taxable savings interest
if you did you would need to declare to HMRC as you would owe tax but you wouldn't normally have to complete a self assessment form

Have never had much in the way of savings as I was paying off debt, and what I do have now is in an ISA. Any interest paid within the ISA is taxfree, isn't it? I've gone back through a Natwest ordinary savings account statements for 2012-2013 and I earned 13p interest (yes really), and 11p the previous year; should I declare that, and if so, how?

EDIT: I realise this sounds really silly, and I'll probably get laughed at, but I do like figures to be exact, so a total of 21p owed to HMRC from 5th April 2010 till now.

Mikeyorks

Tiglath wrote: »

so a total of 21p owed to HMRC from 5th April 2010 till now.

Below any de-minimis ..... not worth a mention. And - yes - the ISA interest equally doesn't get mentioned.

The link I posted above, earlier, gives you all the criteria for joining SA.

Tiglath

Thank you Mike

agrinnall

Mikeyorks wrote: »

The criteria is faily well covered by HMRC here :-

http://www.hmrc.gov.uk/sa/need-tax-return.htm?WT.ac=SA_%20DYNTR

Welcome back, you were missed in the 19 months when you were almost entirely absent, have you returned for good now?