Generally speaking, if you're self-employed, you'll need to submit a self assessment tax return for each year that you're self-employed in order to pay income tax and National Insurance on your profits.
Other people who need to fill in a self assessment tax return include anyone who:
Claims child benefit if your or your partner's income exceeds £50,000
Receives taxable income from abroad or lives abroad and receives an income in the UK
Receives a state pension that exceeds their personal allowance (and it's their only source of income)
Is a partner in a partnership or the director of a limited company (that isn't wholly paid through PAYE)
Earned £100,000 or more last year as an employee or pensioner
Earned £2,500 or more in untaxed income such as tips or commission
Earned £10,000 or more from investment income or savings interest
For a full list of who should complete a self assessment, please click here to be directed to the .gov website.
If you are a director of a limited company then you'll also have to file a Company Tax Return with HMRC and Annual Accounts with Companies House.
