Self Assessment is the system HM Revenue and Customs (HMRC) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return. If you need to send one, you fill it in after the end of the tax year (5 April) it applies to.
Send your tax return by the deadline (31 January if you file online).
If you didn’t send an online return last year, allow extra time (up to 20 working days) as you’ll need to register first.
You need to keep records (e.g. bank statements or receipts) so you can fill in your tax return correctly.
You can get help, e.g. from HMRC or by getting an accountant to do your return for you.
HMRC will calculate what you owe based on what you report.
Pay your Self Assessment bill by 31 January (or 30 December if you want HMRC to collect tax automatically from your wages or pension).
You can get help with filling in your return, e.g. from HMRC or by getting an accountant to do your return for you.
You then have to pay your bill by the deadline.
You must use one of these options to send returns:
You must use a paper form if you need to send a:
The deadline for paper forms is 31 October (or 31 January if you’re a trustee of a registered pension scheme or a non-resident company).
Still have questions? Ready to deal with your assessment?
We'll answer any questions you have, or even better, we can do your self-assessment for you so you know it's accurate, properly recorded and done on time.
If you're not sure what to do......give us a call