Who is eligible for self assessment tax forms?
1) If you are self employed or partner in company 2) Earn over £100,000 (bracket has been raised from previously all 40% tax payers). 3) Earn over £2,500 in untaxed income i.e. land and property rents etc 4) Claim over £2,500 in expenses. 5) Director of company or minister of religion. 6) Have investment income (interest/dividends etc) over £10,000. 6) Receive income from abroad. 7) You request one. 8) Your State pension exceeds your personal allowances and with no other PAYE income i.e to collect the tax. 9) Collection of high underpayments arising from PAYE. 10) Capital gains tax These are the main criteria for Self Assessment tax forms but there are a few others I can’t think off the top of my head. Contrary to popular belief and certainly since bracket was raised to over £100,000 Self Assessment applies to the few not the many.
