skip to navigationskip to main content

Do you need to submit a Self-Assessment tax return?

There are a number of reasons why you might need to complete a Self-Assessment return for the first time. This includes if you are self-employed, have an annual income over £100,000 and / or have income from savings, investment or property.

Taxpayers that need to complete a Self-Assessment return for the first time (for the 2022-23 tax year) should inform HMRC as soon as possible. The latest date that HMRC should be notified is by 5 October 2023.

HMRC has an online tool that can help you check if you are required to submit a Self-Assessment return.

The following list summarises some of the reasons when taxpayers are usually required to submit a Self-Assessment return:

  • newly self-employed (earning more than £1,000);
  • individuals with multiple sources of income;
  • taxpayers that have received any untaxed income, for example earning money for creating online content;
  • individuals with income over £100,000, and note, that from tax year 2023-24 the Self-Assessment threshold for individuals taxed through PAYE only, will change from £100,000 to £150,000;   
  • those who earn income from property that they own and rent out;
  • who are a new partner in a business partnership;
  • taxpayers whose income (or that of their partner’s) was over £50,000 and one of you claimed Child Benefit;
  • those receiving interest on savings or investment income of £10,000 or more before tax;
  • taxpayers who made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax; and
  • taxpayers who are self-employed and earn less than £1,000 but wish to pay Class 2 NICs voluntarily to protect their entitlement to State Pension and certain benefits.

Working with you

Whether you're starting from scratch or have been in business for years you'll benefit from working with D.R.E. & Co. advice on how to take you to the next level.


About us

We work closely with our clients and act for a broad range of business....


Get in touch

Simple way to contact us. Just fill in a simple form.


Our services

Find out details about what we can do
for you.