earnings over £100K - do I have to do self assessment?

Mistermeaner

HI

Im confused by info on .gov websites regards whether I do or do not have to do self assessment...

My earnings for 2018/2019 will be just over £100K

Reading this: https://www.gov.uk/income-tax-rates/income-over-100000

it appears I should do self assessment


However when clicking the link it takes me here which would suggest I don't need to as I don't meet any of these criteria

https://www.gov.uk/self-assessment-tax-returns/who-must-send-a-tax-return

I'm fully PAYE


thanks

Dazed_and_confused

Yes you do.

Did you follow the tool in the second link? That seems quite clear.

As ultimately it is something called "adjusted net income" which is important once you go over £100k you should probably read up on that.

And don't double count pension contributions! If you are in a "net pay" scheme at work your taxable income (P60 value) will already be reduced to take account of pension contributions to your companies scheme.

Mistermeaner

thanks; i didn;t click the link just read the bullet points - why not just include a bullet point stating 'if you earned over £100K'

Thanks for your help