Tax Thresholds

[arabbadot]

Small company running one area of business and making small profit.
Is there a limit below which a tax return is not necessary?

[Buenchico]

I assume that the company is run on a 'sole trader' basis (rather than as a limited company). If so, as a self-employed person, you get a £1000 per year trading allowance. So if your income from the self-employed activity doesn't exceed £1000 you don't need to submit a tax return. (I'm in that position myself).

If your income from the trading activity exceeds £1000 you're obliged to submit a tax return.

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

[arabbadot]

Thanks for the reply but No the trading was under the umbrella of a limited liability company.
Does that make any difference?

[Buenchico]

Anyone working as a contractor through an umbrella company is, for tax purposes, effectively an employee of that company. i.e. the umbrella company should deduct PAYE tax at source. So there's no need to submit a tax return, irrespective of the amount received through that company.

[Peter Pedant]

if you think you need to make out a tax form
then you probably do

from the information you have given us - I dont think you can tell if you need to make one out
I probably would be

finding out you should have and didnt is £250 for each yr before even starting