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High Earners Removed from Self Assessment

HMRC have announced that individuals who earn in excess of £150,000 through PAYE schemes, will no longer need to submit self-assessment tax returns.

12 months ago HMRC removed the requirements to submit self assessment tax returns from those with income paid via PAYE schemes greater than £100,000.

Prior to the 2023/24 tax years any one with total income in excess of £100,000 were required to submit self-assessment tax returns.

These changes will increase the risk of high earners underpaying income tax.

We can only assume that these changes have occured in order to redcue the workload on an already over burdened HMRC.