Self-Assessment Tax Return 2023/2024
Great to plan ahead especially with only 10 months of this tax year remaining
HMRC are trying to simplify the system and it is fair to say it has been a bit of a burden and additional costs expecting “PAYE only Employees” to complete a Self Assessment Tax Return if they earn over £100,000 but there were reasons for this especially with the Personal Allowance being restricted 🚫over £100,000.
From the 2023/24 tax year, the threshold will increase to £150,000. However, if a taxpayer meets one of the other SA criteria, they will still be required to submit an SA return. Other criteria currently include:
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