There are a number of reasons why you might need to complete a Self Assessment tax return for the first time. If you have had a recent change in work or personal circumstances, you may need to file a return for the 2024-2025 tax year.

HMRC has an online tool that can help you check if you are required to submit a Self Assessment return.  If you find that you do need to file a return, you must advise HMRC as soon as possible or by 5 October 2025 at the latest.

You must file a self-assessment tax return if any of the following apply to you during the tax year:

• You were self-employed as a sole trader and earned more than £1,000 (before expenses)
• You were a partner in a business partnership
• Your total taxable income exceeded £150,000 in the 2024–25 tax year. However, even if your income is under £150,000, other factors (such as rental income or capital gains) may still require you to file a self-assessment return
• You had to pay Capital Gains Tax on the sale or disposal of assets
• You were liable for the High Income Child Benefit Charge
• You had other sources of untaxed income, such as:
  • Rental income from property
  • Tips or commission
  • Savings and investment income (including dividends)
  • Foreign income.

Similarly, the online tool can also be used to check if your work or personal circumstances have changed and you think you no longer need to submit a tax return. If this is the case, you must inform HMRC as soon as possible and in plenty of time before the filing deadline of 31 January 2026 to avoid any penalties.

For more information on self assessment or any aspect of tax or accounting, please contact us.