Is the threshold for filing a self-assessment tax return changing?

For 2023/24 you must complete a tax return if any of the following apply: 

You received self-employment income exceeding £1,000 

• You are a partner in a partnership 
• Your total taxable income exceeds £150,000 
• You have to pay the high income child benefit charge 

Previously, and for your 2022/23 tax return, you would have needed to complete a tax return if your total taxable income exceeded £100,000. 

Those affected will not need to do anything, you should receive a self-assessment exit letter if you file a 2022-23 tax return showing income between £100,000 and £150,000 taxed through PAYE, and don’t meet any of the other criteria for submitting a self-assessment return.  

Furthermore, for the 2024/25 tax year, employees with only PAYE income will not need to complete a tax return, regardless of the amount of income. 

You can check whether you need to submit a 2022/23 tax return using the HMRC checking tool.

Date published 2 Jun 2023 | Last updated 12 Jan 2024

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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