Need to register for self-assessment?
06/06/2024

There is an online tool, developed by HMRC, that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax.

You are required to submit a self-assessment return if any of the following apply:

  • 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 a total taxable income of more than £150,000 in 2023-24 (£100,000 in 2022-23);
  • you had to pay Capital Gains Tax when you sold or ‘disposed of’ something that increased in value; or
  • 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; or
  • foreign income.

There could be other reasons why you may be required to register for self-assessment and therefore using HMRC’s online tool can help you check if you are required to submit a return.


About us  

Our director-led service is supported by the expertise of our highly skilled staff. We believe that our reputation for technical excellence is one of the main reasons for the company’s continued growth. 

Since the 1960’s we have been looking after the financial needs of our diverse database of clients. The practice of today evolved from two long-established firms originating in Coventry (Luckmans) and Kenilworth (Duckett Parker) merging in 2000.

Our vision in 2000 was to combine the directors' expertise to the greatest advantage for you – our client. That ethos still holds true and has enabled us to build a relationship with our clients that lasts.

Legal

Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.

Contact us

LDP Luckmans
1110 Elliott Court, Coventry Business Park
Herald Avenue
Coventry
CV5 6UB

+44 (0) 24 7662 7200
partners@luckmans.com
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