From the tax year 2023-24 onwards, the Self Assessment threshold for taxpayers taxed through PAYE only, will change from £100,000 to £150,000.
Affected taxpayers will receive a Self Assessment exit letter if they submit a 2022-23 return showing income between £100,000 and £150,000 taxed through PAYE and they do not meet any of the other criteria for submitting a Self Assessment return.
For the 2023-24 tax year onward, customers will still need to submit a tax return if their income taxed through PAYE is below £150,000 but they meet one of the other criteria for submitting a Self Assessment return, such as:
- receipt of any untaxed income
- partner in a business partnership
- liability to the High Income Child Benefit Charge
- self-employed individual and with gross income of over £1,000
Customers can check whether they need to submit a return.
