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Self Assessment threshold change

Posted 08/08/2024         

For the 2023 to 2024 tax year, the Self Assessment threshold for individuals taxed through PAYE only, will change from £100,000 to £150,000.    

Individuals should have received a letter confirming they do not need to complete a tax return if they submitted a 2022 to 2023 tax return showing income between £100,000 and £150,000 that is taxed through PAYE and they do not meet any of the other criteria for Self Assessment. 

For the 2023 to 2024 tax year, individuals will still need to submit a tax return if their income taxed through PAYE is below £150,000 but they meet one of the other criteria, such as:

  • receives any untaxed income over £2,500 
  • partner in a business partnership  
  • has to pay the High-Income Child Benefit Charge 
  • a self-employed individual with gross income of over £1,000 

From the tax year 2024 to 2025 onwards, the income threshold to complete a tax return for PAYE-only taxpayers will be removed. Customers will still be required to submit a return if they meet any of the other criteria listed above.  

You can check if you need to complete a tax return at https://www.gov.uk/check-if-you-need-tax-return

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