Do you need to file a self-assessment tax return this year?

CREATED BY ROGER EDDOWES Published: 20/10/2025 @ 09:00AM #taxreturn #SelfAssessment #HMRC #UKTax #PersonalFinance #SmallBusiness

Wondering if you need to file a self-assessment tax return for 2024/25? Here's what's changed, who must file, and when to act. Stay ahead, avoid penalties, and keep things simple ...

Tax return in hand, Sigh of relief, burden lifted, Spring breeze, new chapter

You're probably asking yourself whether you need to do a self-assessment tax return this year, and the honest answer is that it depends on your income mix, your recent life changes, and a few key updates for 2024/25 that quietly alter who's in or out of self-assessment.

You should start by mapping your income
sources against HMRC's criteria!

This is because small shifts can tip you over a threshold without you even noticing, especially if you've added a new side hustle, started renting out a property, or received more interest, dividends or other untaxed income than you have in previous tax years.

You'll need to act if:

• Your self-employment income tops £1,000,
• Your rental income is over £2,500 after expenses or £10,000 gross,
• your savings or investment income exceeds £10,000,
• Your dividends exceed £10,000,
• You have other untaxed income of £2,500 or more,
• You're claiming more than £2,500 in employment expenses,
• You're within the high-income child benefit charge and not using the new PAYE facility,
• Your capital gains exceed £3,000, or your disposals exceed £50,000.

You might also need one even if you didn't last year, because while the old £150,000 PAYE income threshold was removed from 2024/25, other criteria can still bring you in, and HMRC's online checker is the quickest way to confirm this before you make any moves.

You must tell HMRC by 5 October 2025 if you need to file for 2024/25 and haven't registered before. If you're self-employed, the registration process also links to Class 2 National Insurance credits, which still protect your state pension record even though paying Class 2 is no longer mandatory when profits exceed the £6,725 small profits threshold.

You can register online via a business tax account or use forms SA1 or CWF1, but resist filing the return itself until HMRC issues a notice to file, because sending a return before your account is fully set up can slow processing and create unnecessary friction for both you and any agent helping you.

You should also challenge a notice to file if you're confident you no longer meet any criteria for 2024/25, because ignoring it will trigger penalties, and if HMRC sends you a simple assessment for a year you intend to file, contact them to get it withdrawn to avoid duplicate charges.

You still need to square any tax on untaxed income!

Even if it's just below the self-assessment thresholds, because HMRC can collect through PAYE adjustments, and if you prefer the control and visibility self-assessment gives you, you can register voluntarily and keep all your numbers in one place.

You can simplify your decision by asking yourself this question:"If you had a small business, rental, sizeable investments, capital gains, or other income in 2024/25, would you be comfortable proving there's no filing requirement if asked tomorrow?"

If not, complete the HMRC checker now and plan your tax return before deadlines bite.

Until next time ...

ROGER EDDOWES
Join our mailing list! Click here and be one of the first to know when we publish a new blog post!

Share the blog love ...

Buffer Facebook Twitter Linkedin Pinterest WhatsApp #taxreturn #SelfAssessment #HMRC #UKTax #PersonalFinance #SmallBusiness

About Roger Eddowes ...
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach. Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.

More blog posts for you to enjoy ...
		What does the duty on electric cars in 2028 mean for drivers? Wondering how the duty on electric cars will actually be charged from 2028? It's a mileage-based levy tied into the existing DVLA system, with estimates up front and a true-up later. Here's the practical shape of it, without ...
		HMRC's final MTD nudge letters: what self-assessment taxpayers should do now HMRC is issuing MTD nudge letters based on 2024/25 returns, and some may arrive in late March. If your income tops £50,000, action may be needed even without a letter. If you receive one, read it, confirm your status, then si...
		Planning ahead for the 2026 tax year-end: Practical moves for tax payers Here's a useful run-through of what to review before the tax year-end on the 5th of April 2026. It covers business allowances, dividend changes, ISA tweaks and upcoming property surcharges. Think of it as a quick nudge to pla...
		Why the HMRC self-assessment tax return deadline keeps catching people out About a million people missed the HMRC self-assessment tax return deadline, and the knock-on costs can really add up. My blog post this week walks through why it happens, what HMRC fines can follow, and the smartest next step...
		Are we heading towards a Digital Pound? The BoE is certainly thinking about it Here's what a digital pound could look like and why it's being explored by the Bank of England. It wouldn't replace cash, and it certainly wouldn't be classed as crypto. The next couple of years are about design, testing and ...
		HMRC's Time to Pay agreements: a simple way to help pay your tax bill Need time to help pay your tax bill? HMRC's Time to Pay arrangements can spread a Self-Assessment balance into manageable monthly payments. File early, set up a plan if eligible, and keep an eye out for scams ......
		Cybersecurity tips for protecting your business, family and personal data Here are some cybersecurity tips you can actually use day to day, without getting overwhelmed. Learn how to spot common scams, verify requests safely, and lock down accounts with better habits. Think of it as a calm, practica...
		Why small businesses are dropping the green agenda as survival pressures rise Cashflow is getting tight for many small businesses, so dropping the green agenda is now a logical survival step. That's quite understandable. This blog post looks at why priorities are shifting and how firms can still move t...

Other bloggers you may like ...
		Welcome to YourBOT: The AI chatbot built for UK small businesses Posted by Steffi Lewis on https://www.yourbot.uk Running a small business in the UK isn't easy. Between customers, paperwork, marketing, late-night admin, and the never-ending ''I'll just sort this q ...
		Coming Soon: smart document capture in Xero for faster bookkeeping Posted by Alison Mead on https://blog.siliconbullet.com Smart document capture is about to make getting documents into Xero much quicker. Upload, email, or snap a photo, and Xero will read it, prefill the r ...
		How to be happy retiring from your consultancy, without losing yourself Posted by Jacky Sherman on https://www.jackysherman.com What makes a happy retirement when you've been in consultancy for years? It's less about stopping work and more about designing your identity, boundar ...
		Why serviced accommodation in Milton Keynes outperforms hotels for modern work trips Posted by Emily Freeman on https://blog.shortstay-mk.co.uk If a hotel room feels like living out of a suitcase, there's a far better option. Our serviced accommodation in Milton Keynes offers space, privacy an ...