Calling all the higher earners – it could be you?

Did you know it’s not just those who are self-employed or directors of Limited Companies who are required to file a self-assessment?

Anybody who is earning over 100k have to submit these too even if they’re employed.

So, if you work in a Senior Role or indeed have excellent commission and bonuses coming your way that tip you over the £100k mark, then you will have to submit a self-assessment return. HMRC will actually generate the request and send it to you in their lovely brown envelope, but it is your responsibility to file it. If it’s likely to be you, or maybe it is you, then don’t get a headache, it’s what we do every day.

In summary, those who reach the 100k level also then see their personal allowance start to drop. It’s actually £1 for every £2 earned over that 100k until it runs out completely.