[ˈpɜːsᵊnᵊl tæks rɪˈtɜːn]
A Personal Tax Return, also known as a Self Assessment, is a form that some people will need to file to declare their income and how much tax they owe to HMRC.
A Personal Tax Return is a document that Taxpayers must file if they meet certain qualifying criteria. This form is submitted to HMRC and includes information about the individual's income from every different source, Expenses, Pension contributions and other details to make sure HMRC know how much tax the individual is liable to pay.
Individuals will need to file a Personal Tax Return if they either are an Employee who earns over £100,000 a year, an individual who has earned over £1000 from Self-employment, or an individual who has earned over £2500 in rental income.
This Personal Tax Return is also called a Self Assessment. It must be filed by 31st January of the year following the Tax Year that the document describes.
At Earnr, we can manage your Personal Tax Return. This can save you time better spent elsewhere and improve accuracy in your tax filings.
January 31st is the deadline for submitting 2022/23 tax returns. It's a good idea to complete your tax return ahead of this deadline to avoid mistakes and potential penalties. This article shows why its a good idea to submit your tax return early and how Earnr can help you if you are stuck.
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We recently introduced our newest addition to the Earnr team; our AI chat bot, Earnr AI. In this article we put Earnr AI to the test and asked it why you should use Earnr as your tax companion, bookkeeping tool and tax return assistant. Read it's excellent response!
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The festive period is often thought of as the busiest time of the year with the run up to Christmas and New Year. Whilst this period can feel hectic at times, it can also be seen as the perfect time to complete your tax return. In this article we explain why this Christmas time is the best time to submit your 22/23 tax return.
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