A record 299,419 self assessment returns were filed in the first week of the new tax year in the UK. That is a new record, and 10 months ahead of the next deadline!
HMRC said there were 57,815 early filers on the opening day, which was a Sunday
People may need to complete a tax return for the 2024 to 2025 tax year and pay any tax owed if they:
- Are newly self-employed with a total income over £1,000.
- Are self-employed and earn below £1,000 and wish to have Class 2 National Insurance contributions treated as paid.
- Have received any untaxed income over £2,500.
- Are renting out one or more properties.
- Claim Child Benefit and they or their partner have an income above £60,000.
- Are a partner in a business partnership.
- Have taxable income earned from savings and investments more than the £10,000, and have dividend income of more than £10,000.
- Have Capital Gains Tax to pay on assets that were sold for a profit above the Capital Gains threshold.
A full list of who needs to complete a tax return is available on GOV.UK.
