If you are a Global Talent or Innovator Founder visa holder, Self Assessment is rarely “simple”. A high PAYE salary, dividends from your company, rental income, and sometimes overseas income or investment gains can turn a normal return into a deadline scramble.
We can take this off your plate. We prepare and submit your UK Self Assessment tax return and we also provide practical tax advice for the new tax period, so you go into the year with a plan rather than a surprise.
Deadline: 31 January (online filing and payment)
For the 2024/25 tax year, the online deadline to file your Self Assessment return and pay any tax due is 11:59pm on 31 January 2026. If you file late, HMRC charges an initial £100 penalty and further penalties can apply the longer it is delayed. If you pay late, HMRC charges late payment penalties (5% at 30days, 6 months and 12 months) plus interest. Income Tax rates and Personal Allowances: Current rates and allowances - GOV.UK
Who this service is for
This is designed for people who have one or more of the following: a high salary taxed via PAYE, a UK property that is rented out, dividends/director income from a limited company, foreign income and gains, capital gains from shares/crypto/property.
Why high earners and landlords get caught out
High salary and personal allowance taper: if your adjusted net income is above £100,000, your personal allowance reduces by £1 for every £2 over that level, and it becomes zero at £125,140. This is one of the biggest reasons high earners get an unexpected bill when anything is reported incorrectly or too late.
Dividends: the dividend allowance for 6 April 2024 to 5 April 2025 is £500, and dividends above that may be taxed depending on your income band.
Child Benefit: from 2024/25 onwards the High Income Child Benefit Charge threshold is over £60,000 (with a taper up to £80,000).This catches many high earners who didn’t expect to need Self Assessment.
Rental property and mortgage interest: for residential property, finance cost relief is restricted to the basic rate and given as a tax reduction rather than a normal expense deduction. This often increases tax for higher and additional rate taxpayers, so it needs to behand led carefully in the property section.
Capital gains: the CGT annual exempt amount for2024/25 is £3,000. Rates depend on the asset type and your position, and for gains from 6 April 2025 onwards GOV.UK shows (for example) 18%/24% for residential property depending on whether you’re a basic rate taxpayer, and 24%for other chargeable assets (with carried interest treated separately).
New area for internationally mobile clients: foreign income and gains from 6 April 2025
Visa status does not determine your UK tax residency; the Statutory Residence Test does, and it is assessed tax year by tax year. From 6 April 2025, HMRC’s guidance explains that UK residents are generally taxed on worldwide income and gains on an arising basis, and qualifying new residents may be able to claim relief on foreign income and gains during their first 4 years of UK residence(subject to conditions).
What we do for you
We prepare and submit your Self Assessment tax return, with the right sections completed for your circumstances (salary, dividends, property, gains, and foreign income where relevant). We check the usual “high earner” pressure points that drive unexpected bills and compliance risk, and we make sure your numbers and disclosures are consistent.
Then we provide tax advice for the new tax period. This is the part that stops the next January panic. We’ll talk you through what’s changing for you, what to track during the year, and how to avoid common traps such as payments on account shocks.
Payments on account (why your January bill can be higher than expected)
Payments on account are advance payments towards your next tax bill. Each payment is half of the tax you owed last year and they’re due by midnight on 31January and 31 July (including Class 4 NIC if you’re self-employed). This is a common reason people think they’re paying “too much” in January, when it’s actually a balancing payment plus the first instalment for the next year.
If you’re close to the deadline: payment method timing matters
HMRC explains that Faster Payments usually reach them the same or next day(including weekends/bank holidays), CHAPS is usually same working day, and Bacs usually takes 3 working days. So if you’re paying near 31 January, do not accidentally choose a slower route.
If you can not pay in full
HMRC may allow you to set up a payment plan to pay overdue tax in monthly instalments (Time to Pay), depending on your situation.
Book your free online call via info@schoolgateaccounts.co.uk or +44 7825 308400.
FAQ
Do Global Talent or Innovator Founder visa holders pay different tax in the UK?
Your visa type does not decide your UK tax residency or what you pay. Residency is determined by the Statutory Residence Test, and the rules that apply follow from that.
I have PAYE and rental property income. Do I still need Self Assessment?
Often, yes. Rental profit is commonly reported through Self Assessment, and high earners also get pulled in for reasons like the High Income Child Benefit Charge or dividends.
Why is mortgage interest not reducing my rental profit like I expected?
For residential landlords, finance cost relief is restricted to the basic rate and given as a tax reduction rather than a full deduction against rental income.
What if I took dividends from my company?
The dividend allowance for 2024/25 is £500 and tax may apply above that depending on your band. This is a common founder scenario we handle in the return.
I sold shares/crypto/property. Is that included?
Potentially. The annual exempt amount is £3,000 for 2024/25, and rates depend on the asset and timing.
What changes should I be thinking about for the new period? If you have self-employment and/or property income, Making Tax Digital for Income Tax starts to phase in from 6 April 2026 for those with qualifying income over £50,000, and from 6 April 2027 for those over £30,000 (with plans to go lower later). This affects record-keeping and reporting cadence, so it is worth planning early.
