Tax returns

This involves completing a tax return each year. You show your income and capital gains (profits on the sale of certain assets) and are also able to claim tax allowance or reliefs on your tax return. The tax return is the actual form used in the self assessment, on which the payer makes an annual statement of income and personal circumstances which is used by the authorities to assess liability for tax. This must be filed with HM Revenue & Customs declaring liability for taxation. Different bodies must file different tax return forms as regard to the various forms of taxation.


The main forms currently in use:

  • SA100 -  For Individuals paying income tax
  • SA800 – For Partnerships
  • SA900 – For Trusts and Estates of deceased persons
  • CT600 – For companies paying corporation tax
  • P35 – For PAYE deductions by employers and National Insurance contribution
  • VAT100 – For value added tax (VAT)


The tax returns are required for:

  • Self-employed including someone in a Partnership
  • Company directors
  • An individual with large amounts of savings or investment incomes
  • An individual with untaxed savings or investment incomes
  • Individual owns land or property that is being let.
  • Household receives Child Benefit and there is income in excess of £50,000 within that household
  • Receives income from overseas


Be sure to consult a professional to be sure that you are paying the right amount of tax.


There is a link to the HM Revenue & Customs website to use the approved software that can be used to complete your tax returns; calculate your tax liability; file the return online.  To obtain a self-assessment tax return you will need to register and this can be done online. The HM Revenue & Customs will in turn use the information you provide to set up the right records for you.


NOTE: There is a penalty of £100 should you fail to send your tax return on time. The later you send your return, the more penalties your required to pay.