Ever wondered why some people have to complete a Tax Return, while others don’t?
November 7, 2011No-one likes to complete a Tax Return, but have you ever wondered why HMRC have picked on you?
Well, below is a list of the main reasons people must submit a Tax Return every year:
You are self-employed;
You are a Member of Parliament!
You are a company director;
You have at least £10,000 gross investment or rental income;
You have at least £2,500 taxable investment or rental income;
You have untaxed overseas income;
You have Capital Gains Tax to pay;
You owe HMRC back taxes and don’t want to pay it through PAYE.
There are a few other reasons, but the chances are that if you “fail” one of the above tests, you’ll be getting the dreaded form landing in your inbox/letterbox in early April.






