What is self-assessment and who needs to complete a tax return?

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By Morag Miller

Tax returns via self-assessment are a key part of the UK taxation system – but who needs to complete a tax return, by what date and what are the penalties for leaving it too late? Morag Miller, Accounting Partner and Head of Healthcare at Armstrong Watson, tells us what doctors need to know.

Tax can be paid in different ways and whether or not you complete a tax return depends on your personal circumstances around your work status.

The majority of people working for an employer will pay tax through pay as you earn (PAYE). If you’re self-employed or you have self-employed income in addition to employment, you will likely have to submit a self-assessment tax return.

Reasons for completing a tax return:

• you earn more than £60,000 and you're in receipt of Child Benefit
• if you have rental income that is more than the £1,000 property allowance