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 Self Assessment
The tax year runs from 6 April to 5 April each year. You should determine whether or not you fall into a Self Assessment category.
Those who come under the Self Assessment guidelines are required to submit a Self Assessment Tax Return by 31 January of the following year. Some of the Self Assessment categories include:
- High Income Earner - Approx £37,000 for 2006.
- Limited Company Director
- Property owner
- Self-employed
- Untaxed income.
- Investment income over £10,000 - this includes income from dividends
If you submitted a self assessment return for a previous year, you may be required to in subsequent years whether you still fall into one of the above categories or not. The deadline for submitting SA returns for the 2006 year is 31 January 2007.
Please note, the GRS cannot provide you with tax advice but can give you the details of an accountant who will be able to help if you so wish.
Disclaimer - GRS is not able to assist you in completing a Self Assessment return and does not assume liability for any inaccurate or incomplete information, nor for any actions taken in reliance thereon. The information we have provided above is a guideline only and you should seek independent advice if you have any further questions.
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