All business owners are required to submit self assessment tax returns. The deadline each year of 31 January if submitted online, if paper submissions (not recommended) deadline is October each year.

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Who must send a tax return
 

You must send a tax return if, in the last tax year (6 April to 5 April), you were:

• self-employed as a ‘sole trader’ and earned more than £1,000

• a partner in a business partnership
   

You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:
 

• money from renting out a property

• Company Director who maybe has dividends

• tips and commission

• income from savings and investments

• foreign income
   

Check if you need to send a tax return if you’re not sure.

 

Other reasons for sending a return
 

You can choose to fill in a tax return to:

• claim some Income Tax reliefs

• prove you’re self-employed, for example to claim Tax-Free Childcare or Maternity Allowance
  
   

If you get Child Benefit
 

If your income (or your partner’s, if you have one) was over £50,000, you may need to send a return and pay the High Income Child Benefit Charge.