Who needs to prepare a Personal Income Tax return (IRPF), known as the ‘Self-Assessment Tax Return’ in the UK?

 

Unlike Brazil, the UK fiscal year runs from the 6th of April to the 5th of April of the following year.

 

The period for filing the 2024/2025 Self-Assessment is now open, and it must be completed by:

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• Self-employed individuals (sole traders) who worked between 6 April 2024 and 5 April 2025.
  If you worked during this period but have not yet registered, it is important to do so.
  Self-employed workers are equivalent to autônomos in Brazil and can deduct work-related, transport, and office expenses when calculating the tax due.

• UK residents who receive foreign income — such as rent, dividends, gains from the sale of shares, real estate, or other capital assets.

• Non-residents who still receive income in the UK, such as rent, even after leaving the country.

• Employees earning over £150,000 per year.

• Anyone who has made a profit from selling shares, a second home, or other assets.

• Company directors.

• Anyone who has received child benefit while they or their partner earned over £50,000 per year.

• Individuals who receive over £10,000 in investment returns or dividends.

• Property owners earning over £2,500 in rental income.

 

This list is not exhaustive and others are also subject to submit the Self-Assessment. Check this at: https://www.gov.uk/check-if-you-need-a-tax-return.

 

His Majesty’s Revenue & Customs (HMCR) can also send you letters asking you to prepare a Self-Assessment, even if there is no tax to be paid. In this case, you must prepare the Self-Assessment as indicated in the letter.

 

We are happy to help you with registration and the Self-Assessment Tax Return. Get in touch or schedule an appointment.