Do you need to complete a Self Assessment Tax Return for the 2020/2021 tax year?

Do you need to complete a Self Assessment Tax Return for the 2020/2021 tax year?

08/19/2021 - 23:22

Late returns can result in a fine, so let us take the stress away today

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

The tax year is from 6th April to 5th April the following year. You’ll need to send a tax return if in the last tax year:

  • you received £1,000 or more in untaxed income, for example from renting out a property
  • you earned over £1,000 from online sales such as Ebay, Etsy and Amazon
  • you were self employed 
  • you were partner in a business partnership
  • you were registered with the Construction Industry Scheme
  • your income from savings or investment was £10,000 or more before tax
  • your income (or your partner’s) was over £50,000 and one of you claimed Child Benefit
  • you received dividends from shares
  • your total income was over £100,000

Online returns must be submitted by 31st January 2022.

Get in touch with us on or before 31st August 2021 and pay just £150 +VAT for your return.

Prices increase to £200+ VAT from 1st September.

Be an early bird and save time, stress and money! Email: accountancy@umbrella.co.uk