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's changing with tax on an overdrawn Director's Loan Account in April? Here's the practical change: Section 455 rises from the 6th of April 2026. If there's an overdrawn Director's Loan Account, the timing of the loan suddenly matters more. This is a quick, conversational run-through of what shi...
		Where is the economy heading, and can enterprise change the story? When I look at the latest economic commentary and data, my honest feeling is that the economy is in a strange place right now. It is not collapsing, but it is hardly thriving either. Growth has been slow, confidence feels fra...
		Download our Spring Statement 2026 summary: the essentials, clearly explained Want the Spring Statement 2026 without the noise? This blog post explains what changed, what didn't, and why the forecasts matter. You can also download our summary and keep a simple reference of what the chancellor announced...
		Companies House says presenter requirements are now delayed until November Companies House presenter requirements have slipped from Spring to November 2026. That gives directors, PSCs, and company agents more breathing space on identity checks and ACSP registration. Use the delay to get systems, rol...
		How higher taxes delivered a record government surplus in January The record government surplus in January came from higher tax receipts, rather than lower public spending. It looks like a strong month, yet public finances still depend on growth staying on track. Here are my thoughts about ...
		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...

Other bloggers you may like ...
		Blogging: 5 Reasons Why It's Essential for Your Small Business Posted by Steffi Lewis on https://www.sblogit.com Having a strong online presence is crucial for the success of any small business. One of the most effective ways to establish your brand is through bl ...
		Learning With My Clients Posted by Jacky Sherman on https://www.jackysherman.com I had a lovely email when I first published this blog post from one of my clients, a graphic designer of many years, but new to running his own busin ...
		Exploring the Benefits of Serviced Accommodation: A Superior Choice for Travellers Posted by Emily Freeman on https://blog.shortstay-mk.co.uk Compared with a hotel room, our serviced accommodation offers enhanced comfort, privacy, and a lot of guest satisfaction. From the spaciousness of a w ...
		Career research that saves you time, money, and regret Posted by Dave Cordle on https://blog.davecordle.co.uk Do your career research like a mini-investigation before you leap. Use AI, web search, LinkedIn, and real conversations to validate day-to-day work, p ...