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
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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.

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