3

This article suggests that high earners (over £100,000) should file a self-assessment tax return:

Income over £100,000 Your Personal Allowance goes down by £1 for every £2 that your adjusted net income is above £100,000. This means your allowance is zero if your income is £125,140 or above.

You’ll also need to do a Self Assessment tax return.

If you do not usually send a tax return, you need to register by 5 October following the tax year you had the income.

But I don't understand where this applies. Is this only for self-employed, or would it apply for employed, receiving salary through PAYE?

1 Answer 1

3

No, it's not just for self-employed - PAYE employees with an income over £100k need to do a Self Assessement tax return (just as the quote you use indicates!).

You can confirm this with HMRC's Check if you need to send a Self Assessment tax return interactive tool - entering "didn't work for myself", "didn't work as an off-payroll worker", "More than £100k" takes you to here where it says "You need to send a Self Assessment tax return".

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .