Personal Income Tax

Each individual has unique life and in different circumstances. Taxation may incur at any stage of your life or on any income you have made in a tax year. No matter you are a UK domiciled, or UK resident, whether you are a sole trader, UK expat, investor, landlord an more, you are taxed in all the income in the UK, sometimes worldwide. The following situation means you are possibly need to file up personal income tax through self assessment:

1. Only have employment income, and is over £100K.

2. Apart from employment income, you also have pension or other income.

3. If you receive child benefit and either yours or your partner's income if more than £50,000.

4. Self-employment income.

5. Rental income from either residential properties or furnished holiday letting.

6. Dividend received.

7. Interest received.

8. Government grant received for your self-employed business.

9. If you are an overseas landlord and receive rental income from UK properties.

10. Capital gains.

11. Foreign income.

Having your tax planning setup in advance can avoid unnecessary payment. Please speak to our tax advisor for advice and opinion. If you are not sure whether you are eligible to file up your self assessment tax return, or which income or tax needs to be disclosed, please contact us and we are here for help.