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INDIVIDUALS

One individual will probably be as distinct from the next individual, as much as both are distinct from a group. You may be a landlord with a small property portfolio, or you may be a retired person with a range of investments, seeking to effectively manage your tax responsibilities. 

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Perhaps you maintain a home abroad, and for this or for any reason, you are unsure if you need to file a Self Assessment tax return in the UK.

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If you meet HMRC’s self assessment criteria, you will generally need to file a tax return. It is also important to understand your legal obligations relating to self assessment to avoid penalties and interest.

WHAT ARE THE CRITERIA?

If you earn more than £150,000 under PAYE employment, and have not previously filed a self assessment, HMRC will usually notify you to file a self assessment. (note: prior to 6 April 2024, this limit was £100,000).

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If you earn less than £150,000 under PAYE but need to file a self assessment due to other criteria, you need to register with HMRC for self assessment. In other words, don't wait for HMRC to contact you about it!​​

ESTABLISH A RELATIONSHIP

At Sadler Advisory we enjoy the challenges our individual clients bring to us, and the relationships we build with them (and all our clients). Our services for individuals naturally include the preparation and filing of HMRC’s annual Self Assessments. 

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At other times, the disposal of shares, a property, or any other capital asset will give rise to capital gains tax, which you may wish us to calculate and file with HMRC.

If you are the executor of a Will, there may be inheritance tax obligations, a different responsibility with which Sadler Advisory would be pleased to assist. 

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We don't charge for an initial chat. â€‹â€‹

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