Self assessment Tax Return threshold raised to £150,000 from 6 April 2023
Until 5 April 2023, those with PAYE income over £100,000 and no other untaxed income were required to submit their self-assessment tax returns every year. This threshold of filing self-assessment tax returns has been increased from £100,000 to £150,000 from 6 April 2023, which means if your PAYE income is less than £150,000, you will not be required to submit your tax returns.
The threshold for 2022/23 is still the same. This means that those who are taxed through PAYE only and have income over £100,000 still need to submit a self assessment tax return for 2022/23.
For the tax year 2023/24, you will be required to submit a self-assessment tax return if your income exceeds £150,000 threshold. However, if you meet any other self assessment tax return filing criteria, you will still be required to submit a tax return even if your PAYE income is less than £150,000.
For example, other criteria to file a self assessment tax return can be:
- High-income child benefit charge is payable
- Self-employment income is more than £1,000
- Receipt of untaxed income of £2,500 or more
You can also check HMRC’s online tool to see whether you need to submit a tax return.
Commonly asked questions:
- I have a PAYE income of less than £100,000 and no other income source. Do I need to submit a self assessment tax return?
You will not be required to file your self assessment tax return if your only source of income is your employment income and you do not receive any child benefit. You may need to submit a tax return if you meet any other criteria for filing a tax return.
Please click on the link below to check whether you are required to file your personal tax return.
Check whether you need to submit a return
- I have a PAYE income between £100,000 to £150,000 and no other income source of income. Do I need to submit a self assessment tax return?
From 6 April 2023, you will be required to submit your self assessment tax return if your PAYE income is above £150,000. If your PAYE income for the tax year 2023/24 is between £100,000 to £150,000, you will not be required to file the tax return unless you meet any other self assessment tax return filing criteria.
Please click on the link below to check whether you are required to file your personal tax return due to meeting any other self assessment tax return filing criteria:
Check whether you need to submit a return
- I have a PAYE income over £150,000 and no other income source of income. Do I need to submit a self assessment tax return?
From 6 April 2023, you will be required to submit your self assessment tax return if your PAYE income is above £150,000.
