Better late than never - Self assessment...

[AlfaWorker]

I used to do a SA up to 23/24 as I had a very small side gig with running a website turning over a few K a year. The turnover has dwindled over the years to less than £1000 in 24/25, but I still keep it going as it's got loads of info on it. Costs wash the profit.

So, this for 24/25, as turnover is under 1k, I don't need to do a SA. But, my income for the same period clocked 116k. Through a mixture of salary, bonus and stock (for a US company).

If I use the Gov's SA logic test, it tells me that I do not need to provide an SA anymore. But, I've read if I earn over 100k I do. They provided notice for me to do one, but obviously I can explain I don't need to anymore.

Also, if I do it, the calc shows I owe ~£3k, which I imagine is from tax bracket issues?

Highly unlikely I'll get an accountant to unpickle this prior to the 31st. Just trying to understand what I need to do. (I imagine the phone lines will take hours!)

TIA!

[mark seeker]

I called HMRC SA yesterday morning around 8.20am, it took me 30 minutes to speak to someone (which I thought give 31st is looming, ok)

[Eric Mc]

AlfaWorker said:

I used to do a SA up to 23/24 as I had a very small side gig with running a website turning over a few K a year. The turnover has dwindled over the years to less than £1000 in 24/25, but I still keep it going as it's got loads of info on it. Costs wash the profit.

So, this for 24/25, as turnover is under 1k, I don't need to do a SA. But, my income for the same period clocked 116k. Through a mixture of salary, bonus and stock (for a US company).

If I use the Gov's SA logic test, it tells me that I do not need to provide an SA anymore. But, I've read if I earn over 100k I do. They provided notice for me to do one, but obviously I can explain I don't need to anymore.

Also, if I do it, the calc shows I owe ~£3k, which I imagine is from tax bracket issues?

Highly unlikely I'll get an accountant to unpickle this prior to the 31st. Just trying to understand what I need to do. (I imagine the phone lines will take hours!)

TIA!

If they provided you with a notice to complete a 2024/25 tax return - you must complete the return and submit it by 31 January.

If you know for sure you don't need to complete a return, you can contact them and explain to them directly why you don't need to complete the return. If they agree with you, they will cancel the requirement to complete the return.

If you are taxed correctly under the PAYE system and you do not have other sources of income that are not properly taxed at source, then even if your income exceeds £100,000, you won't need to complete a return.

[AlfaWorker]

32 mins and counting Mark, thought I'd give it a go.


Thanks Eric, I'm sure it's calculated correctly. If When I speak with someone I can confirm and get them to remove the "must complete" tag

[Peterpetrole]

You could probably fill it in with a bunch of zeros quicker than waiting on the phone for them

[AlfaWorker]

they answered after 40 mins and then 20 mins to go through everything. She tried to fob me off to the online thing, but I persisted so she asked me on the phone and said I don't need to a self assessment, as income is all PAYE and sole trader is >£1000.

Calls are recorded... blah blah

thanks all

[fflump]

Peterpetrole said:

You could probably fill it in with a bunch of zeros quicker than waiting on the phone for them

This is correct my SA took 5 minutes max.