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 2025/2026 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 2025 and 5 April 2026. If you worked during this period but have not yet registered as self-employed, it is important to do so. Self-employment is equivalent to working as an independent professional in Brazil. Self-employed individuals can deduct allowable business expenses, such as work-related, travel and office costs, when calculating their taxable profits.

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• UK residents receiving income from abroad, including rental income, dividends, gains from the sale of shares, property or other assets.

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• Non-UK residents receiving income from UK sources. For example, individuals who no longer live in the UK but continue to receive rental income from a property in the country.

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• Individuals who have made a profit from selling shares, a second property or other assets.

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• Company directors.

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• Individuals receiving Child Benefit where either they or their partner had an annual income of more than £50,000.

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• Individuals receiving more than £10,000 in investment income or dividends.

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• Property owners receiving more than £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.