News & Important Dates

Self Assessment Threshold 2023/24

From the 2023/24 tax year onwards, the self assessment (SA) threshold for taxpayers taxed through PAYE only, will rise to £150,000.

From the 2023/24 tax year, the threshold will increase to £150,000. However, if a taxpayer meets one of the other SA criteria, they will still be required to submit an SA return. Other criteria currently include:  

   liability to the high income child benefit charge 
   receipt of self-employment income over £1,000 
   receipt of untaxed income of £2,500 or more.

Taxpayers can use HMRC’s online tool to check whether they need to submit a tax return. Further detail on the SA criteria can be found in HRMC’s self assessment manual.  Taxpayers who have a tax liability but do not fall within any of the SA criteria, may need to contact HMRC and arrange for the tax to be collected through PAYE using their tax code. 

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