Be aware of the requirements to complete tax returns - 7th March 2025

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Be aware of the requirements to complete tax returns - 7th March 2025

HMRC are writing to more individuals stating that they do not need to complete tax returns, with the intention that tax codes will be amended instead (the previous blanket approach that anyone earning over £150,000 had to complete a tax return has been removed). We have concerns about this because HMRC do not necessarily know when there has been a change in circumstances and so individuals may find that they have taxable income that isn't being declared. If you have any questions, or if you have received this letter or a tax code notification, please speak to us and we can engage the relevant tax advice. 

Essential Wealth Management
1-2 Great Farm Barns
West Woodhay
Newbury
Berkshire RG20 0BP
Tel: 01488 669840
Fax: 01488 669216
Email: [email protected]

Essential Wealth Management is a trading name of Essential Wealth Management and Advice Ltd which is an appointed representative of 2plan wealth management Ltd which is authorised and regulated by the Financial Conduct Authority. Essential Wealth Management and Advice Ltd is entered on the FCA register (www.FCA.org.uk) under no. 518528. Registered office: 1-2 Great Farm Barns, West Woodhay,Newbury, Berkshire RG20 0BP. Registered in England and Wales Number: 04020006.

The Financial Ombudsman Service is available to mediate individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit: http://www.financial-ombudsman.org.uk/contact/index.html

The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers in the UK.