Workers issued HMRC reminder if you’ve earned ‘over £1,000’ | Personal Finance | Finance
Certain workers in the UK have been issued a reminder by HM Revenue and Customs (HMRC). If you’ve earned “over £1,000”, you might need to complete a tax return.
However, this only applies to certain people and depends on the type of work you’ve been doing. In a post made to social media platform X, HMRC urged people to check if they need to fill out a tax return.
Eligible people include those who have earned more than £1,000 through a side hustle. It said: “Unsure if you might need to complete a tax return? You may need to if you’re:
- “Newly self-employed
- A landlord
- A new partner in a business partnership
- Earned more than £1,000 through a side hustle
“Check using our free online tool.” On the Government website it further explains that income tax is “usually” deducted automatically from wages and pensions.
However, people and businesses with other income “must report” it in a Self Assessment tax return. GOV.UK says: “If you need to send a Self Assessment tax return, fill it in after the end of the tax year (5 April) it applies to.
“You must send a return if HMRC asks you to. You may have to pay interest and a penalty if you do not file and pay on time.”
Deadlines
There are deadlines in place for tax returns. You must tell HMRC by October 5 if you need to complete a tax return for the previous year and you have either:
- Not sent a tax return before
- Registered before but did not need to send a tax return for the tax year 2024 to 2025
You could be fined if you do not tell HMRC by October 5. To fill in your return you need to keep records (for example bank statements or receipts) so you can fill in your tax return correctly.
There are separate deadlines on when the bill will need to be paid. The deadlines for paying your tax bill are usually:
- January 31 – for any tax you owe for the previous tax year (known as a balancing payment) and your first payment on account
- July 31 for your second payment on account
How much to pay
HMRC will calculate what you owe based on what you report. How much tax you pay will depend on the Income Tax band you’re in. There’s a different rate for Capital Gains Tax if you need to pay it, for example you sell shares or a second home.
You can get information on help filling in your return online here.
