SATR

Self Assessment Tax Return

SATR is the second method you pay Income Tax; the first method is PAYE.

£198 billion was collected as Income Tax in 2021: SATR colected 15% (£32 B) & PAYE collected 85% (£169 B).

SATR suits "complex taxpayers" ( whereas PAYE suits "simple taxpayers" - Employees) :

If your tax affairs are more complex (for example you’re self-employed or have a high income) you may pay Income Tax and National Insurance through Self Assessment. You’ll need to fill in a tax return every year.

If your tax affairs are simple, like an employee or pensioner, you use PAYE (Pay As You Earn).

You must also fill in a tax return if you earned more than either:

* £1,000 from self-employment

* £2,500 from other untaxed income, for example from tips or renting out a property

Contact the Income Tax helpline if your income from renting out a property was between £1,000 and £2,500.

Self Assessment tax returns

Contents:

1. Overview
2. Who must send a tax return
3. Registering and sending a return
4. Deadlines
5. Penalties
6. If you need to change your return
7. How to get help
8. Returns for someone who has died

1. OVERVIEW

Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax.
Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return.
If you need to send one, you fill it in after the end of the tax year (5 April) it applies to.

Sending your return

File your tax return online or send a paper form.

Deadlines

Send your tax return by the deadline.

If you did not send an online return last year, allow extra time (up to 20 working days) as you’ll need to register first. There are different ways to register if you’re:

a) self-employed or a sole trader
b) not self-employed
c) registering a partner or partnership

Filling in your return

You need to keep records (for example bank statements or receipts) so you can fill in your tax return correctly.

You can get help filling in your return.

Paying your bill

HMRC will calculate what you owe based on what you report.

How much tax you pay will depend on the Income Tax band you’re in. There’s a different rate for Capital Gains Tax if you need to pay it, for example you sell shares or a second home.

2. Who must send a tax return

You must send a tax return if, in the last tax year (6 April to 5 April), you were:

* self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)

* a partner in a business partnership

You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:

* money from renting out a property

* income from savings, investments and dividends

* foreign income

* tips and commission

[ Check if you need to send a tax return if you’re not sure.]

Other reasons for sending a return

You can choose to fill in a tax return to:

* claim some Income Tax reliefs

* prove you’re self-employed, for example to claim Tax-Free Childcare or Maternity Allowance

If you get Child Benefit

If your income (or your partner’s, if you have one) was over £50,000, you may need to send a return and pay the High Income Child Benefit Charge.

3. Registering and sending a return

You need to register if you did not send a tax return last year. There are different ways to register if you’re:

i) self-employed or a sole trader

ii) not self-employed

iii) registering a partner or partnership

If you’re new to Self Assessment, you’ll need to keep records (for example bank statements or receipts) so you can fill in your tax return correctly.

Sending your return

Once you’ve registered, you can send your tax return online, or use commercial software or paper forms. You then have to pay your bill by the deadline.

You can get help filling in your return.

Using commercial software or paper forms

You can send a return using commercial software or paper forms

You must use one of these options to send returns:

i) for a partnership

ii) for a trust and estate

iii) if you get income from a trust

iv) if you lived abroad as a non-resident

v) if you’re a Lloyd’s underwriter

vi) if you’re a religious minister

vii) to report profits made on selling or disposing of more than one asset (‘chargeable gains’)

> You must use a paper form if you need to send a tax return for trustees of registered pension schemes (SA970).

> The deadline for paper forms is 31 October (or 31 January if you’re a trustee of a registered pension scheme or a non-resident company).

4. Deadlines

HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline.

The last tax year started on 6 April 2020 and ended on 5 April 2021.

Self Assessment ------------------------------------------------------------------------------------------------------- Deadline

Register for Self Assessment if you’re self-employed or a sole trader, not self-employed, or registering a partner or partnership -------- 5 October 2021

Paper tax returns --------------------------------------------------------------------------------------------------------------------------------------- Midnight 31 October 2021

Online tax returns --------------------------------------------------------------------------------------------------------------------------------------- Midnight 31 January 2022

Pay the tax you owe ------------------------------------------------------------------------------------------------------------------------------------- Midnight 31 January 2022

> There’s usually a second payment deadline of 31 July if you make advance payments towards your bill (known as ‘payments on account’).

> You’ll usually pay a penalty if you’re late. You can appeal against a penalty if you have a reasonable excuse.

When the deadline is different

Submit your online return by 30 December if you want HMRC to automatically collect tax you owe from your wages and pension. You must be eligible.

HMRC must receive a paper tax return by 31 January if you’re a trustee of a registered pension scheme or a non-resident company. You cannot send a return online.

>> HMRC might also email or write to you giving you a different deadline.

>> HMRC might also email or write to you giving you a different deadline.

Partnership returns if you have a company as a partner

If your partnership’s accounting date is between 1 February and 5 April and one of your partners is a limited company, the deadline for:

i) online returns is 12 months from the accounting date

ii) paper returns is 9 months from the accounting date

2019 to 2020 tax year and earlier

The Self Assessment deadline for these tax years has passed. Send your tax return or payment as soon as possible - you’ll have to pay a penalty.

5. Penalties

You’ll get a penalty if you need to send a tax return and you miss the deadline for submitting it or paying your bill.

You’ll pay a late filing penalty of £100 if your tax return is up to 3 months late. You’ll have to pay more if it’s later, or if you pay your tax bill late.

You’ll be charged interest on late payments.

Estimate your penalty for Self Assessment tax returns more than 3 months late, and late payments.

You can appeal against a penalty if you have a reasonable excuse.

>> All partners can be charged a penalty if a partnership tax return is late.

6. If you need to change your return

You can make a change to your tax return after you’ve filed it, for example because you made a mistake. You’ll need to make your changes by:

* 31 January 2022 for the 2019 to 2020 tax year

* 31 January 2023 for the 2020 to 2021 tax year

If you miss the deadline or if you need to make a change to your return for any other tax year you’ll need to write to HMRC.

Your bill will be updated based on what you report. You may have to pay more tax or be able to claim a refund.

>> There’s a different process if you need to report foreign income.

Updating your tax return

How you update your tax return depends on how you filed it.

Online tax returns

1. Sign in using your Government Gateway user ID and password.

2. From ‘Your tax account’, choose ’Self Assessment account’ (if you do not see this, skip this step).

3. Choose ‘More Self Assessment details’.

4. Choose ‘At a glance’ from the left-hand menu.

5. Choose ‘Tax return options’.

6. Choose the tax year for the return you want to amend.

7. Go into the tax return, make the corrections and file it again.

Paper tax returns

Download a new tax return, and send HMRC the corrected pages. Write ‘amendment’ on each page, and include your name and Unique Taxpayer Reference (UTR) - this is on previous tax returns or letters from HMRC.

Check your Self Assessment paperwork for the address. If you cannot find this, send your corrections to the address for general Self Assessment enquiries.

If you used commercial software

Contact the software provider for help correcting your tax return. Contact HMRC if your software is not able to make corrections.

Write to HMRC

Write to HMRC if you need to make a change to your tax return from the 2018 to 2019 tax year or earlier.

Include in your letter:
* the tax year you’re correcting
* why you think you’ve paid too much or little tax
* how much you think you’ve over or underpaid

You can claim a refund up to 4 years after the end of the tax year it relates to. If you’re making a claim, also include in your letter:
* that you’re making a claim for ‘overpayment relief’
* proof that you’d paid tax through Self Assessment for the relevant period
* how you want to be repaid
* that you have not previously tried to claim back this refund
* a signed declaration saying that the details you’ve given are correct and complete to the best of your knowledge

Changes to your bill

You’ll see your amended bill straight away if you updated your tax return online. Within 3 days, your statement will also show:
the difference from the old one, so you can see whether you owe more or less tax
any interest

To view this, sign in using your Government Gateway user ID and password and choose ‘View statements’ from the left-hand menu.

If you’re owed tax

To claim a refund, go to ‘Request a repayment’ from the left-hand menu within your HMRC online account. Allow 4 weeks for your refund to be sent to your bank account.

>> You may not get a refund if you have tax due in the next 35 days (for example for a payment on account). Instead, the money will be deducted from the tax you owe.

If you need to pay more tax

Your updated bill will also show:
* the deadline for paying
* the effect on any payments on account you need to make

If you sent an updated paper return

HMRC will send you an updated bill within 4 weeks. They’ll also pay any refund directly into your bank account, as long as you included your bank details on tax return.

7. How to get help

If you need help with Self Assessment, you can:

i) appoint someone to fill in and send your tax return, for example an accountant, friend or relative - you can find an accountant accredited in the UK
ii) watch videos and join webinars
iii) contact HM Revenue and Customs (HMRC) for general Self Assessment enquiries
iv) get help with your online account

If you need help with Self Assessment, you can:

There’s introductory guidance on GOV.UK to:

i) Capital Gains Tax if you’ve sold certain things like property or shares
ii) expenses if you’re an employee or self-employed
iii) Child Benefit if your income’s over £50,000
iv) tax on income from renting property
v) tax on savings interest
vi) tax returns for business partnerships
vii) tax on income from abroad - or on your UK income if you live abroad

Guidance notes and helpsheets

You can also read guidance in:

i) the notes for each section of the tax return, for example ‘UK property notes’ if you’re completing that section
ii) HMRC’s Self Assessment helpsheets

8. Returns for someone who has died

You must report a death to HM Revenue and Customs (HMRC) as soon as possible if you’re dealing with the tax affairs of someone who’s died.

HMRC will tell you if you need to fill in a Self Assessment tax return on the deceased’s behalf. If you do, they’ll send you a return form and a letter with instructions.

Contacting HMRC

If you use the Tell Us Once service you do not need to contact HMRC separately.

If you do not use the Tell Us Once service contact HMRC.

Tell HMRC the:
* date of death
* name and address of who to contact

You’ll also need to tell them one of the following for the deceased:
* National Insurance number
* Unique Taxpayer Reference (UTR) - you can find this on letters or payslips from HMRC
* full address
* last employer or pension provider’s name and address

Filling in the Self Assessment tax return

The records you’ll need for the deceased’s tax return will depend on their circumstances. You’ll usually need details of the deceased’s bank and savings accounts, for example:

* bank statements
* building society pass books
* dividend vouchers
* National Savings bonds or certificates

If the deceased was employed or receiving a pension you’ll usually need:

* work or pension payslips
* details of any expenses paid by the employer
* confirmation of any state pension

You’ll need their business records if the deceased ran their own business or rented out property.

>> Contact HMRC’s Bereavement helpline if you need help completing a return for someone who has died or if you cannot find their records. Sending the return

Sending the return

Send the completed Self Assessment form by post.

The return must reach HMRC by the date given in the letter you received with the form.

You can hire a professional (such as an accountant) to help you submit a tax return on behalf of the deceased.

Telling HMRC about the ‘administration period’

If you’re the executor or administrator of an estate you may also need to send information to HMRC for the ‘administration period’. This is the time between the day after the death and the date the estate is settled (‘distributed’).

What you need to send depends on the size of the estate, and the money that came from it during the administration period.

When you must send a tax return for the ‘administration period’

Fill in a trust and estate tax return if any of the following apply:

i) the total Income Tax and Capital Gains Tax due for the administration period was more than £10,000
ii) the estate was worth more than £2.5 million at the date of death
iii) the date of death was before 6 April 2016 and more than £250,000 a year came from the sale of the estate’s assets by administrators or executors
iv) the date of death was on or after 6 April 2016 and more than £500,000 a year came from the sale of the estate’s assets by administrators or executors

> The trust and estate tax return is only for the estate - it’s separate from the return you sent on behalf of the deceased

Sending the tax return

To send an estate tax return, you must first register the estate online.

You must register by 5 October after the tax year you’re sending a return for. For example, if you’re sending a return for the 2020 to 2021 tax year (6 April 2020 to 5 April 2021) then you must register by 5 October 2021.

* a Government Gateway user ID - the account needs to be registered as an organisation (you cannot use an account registered to an individual)
* a National Insurance number (a temporary reference number will not work)

>> You’ll need a new Government Gateway user ID for each estate you register

You must register the estate online. Then you’ll get a Unique Taxpayer Reference (UTR) in the post within 15 working days (21 if you’re abroad). You’ll need it to send a tax return.

Once you’ve received your UTR, you can either:

* fill in paper form SA900 and post it to HMRC by 31 October after the tax year it applies to
* buy software to send it electronically by 31 January after the tax year it applies to

After you’ve sent your return, HMRC will tell you how much the estate owes. You’ll need to pay the Self Assessment bill by the deadline

If you do not need to send a tax return

You can make ‘informal arrangements’ instead. To do this, write to HMRC and tell them:

the Income Tax and Capital Gains Tax due for the administration period

the name, address, National Insurance number, and UTR of the deceased
your name and contact details

Send this information to HMRC’s address for PAYE and Self Assessment. You must not send tax payments with this information.

You’ll be provided with a payment slip and reference number. You must use these to pay any tax that needs to be paid.

HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline.