Following the end of the 2022/23 tax year on 5th April 2023, you should now consider whether you are required to submit a tax return to HMRC.  Common reasons for submitting a tax return are:  

  • Receiving income from employment over £100,000, 
  • Self-employed or a partner in a business, 
  • Receiving income for renting out a property, 
  • Receiving dividends in excess of £2,000, 
  • Receiving bank interest in excess of your personal savings allowance (this allowance depends on your level of income), 
  • Receiving income over £50,000 and you receive child benefit,  
  • Due to make student loan repayments and this is not done through your employment. 

 This list is not exhaustive.  

The 2022/23 tax return must be submitted to HMRC by 31st January 2024 if submitting electronically or by 31st October 2023, please note there are only a few exceptions that allow for the submission via a paper return.  

Filing your tax return early does not mean that the tax must be paid early. Instead, advantages of filing early are: 

  • You will have advance notice of any tax that is due to be paid by 31st January 2024. This will help with budgeting, 
  • If you are due a refund, this will be issued following submission of your tax return, 
  • Avoid the stress of last-minute filing and potential late filing penalties.  

 If your circumstances have recently changed and you are now required to file a tax return, you must inform HMRC by 5th October 2023. HMRC will issue you with a Unique Taxpayer Reference (UTR) number to allow you to submit your tax return.  

 We have begun contacting our clients to request information to assist with the preparation of the 2022/23 tax returns and would encourage the information to be made available to us as soon as possible.  

 If you are unsure whether you need to complete a tax return, or require our assistance to complete one on your behalf, please feel free to get in touch at