Income Tax

Income tax is potentially payable by everyone but there are rules which make life easier depending on circumstances.

If your income is less than £12,570 then you will not have to pay income tax.

You will have to complete a tax return and submit it to HM Revenue & Customs if you: -

• Are self-employed;
• Earn more than £50,000, even as am employee, and either you, your wife, or partner is receiving Child Benefit;
• Are a company director;
• Own land or property from which you receive a rental income;
• Have other untaxed income which can't be collected through the PAYE system;
• Make a capital gain in excess of the annual exemption limit; or Are an employee or pensioner with more complex tax affairs.