Self Assessment Returns
Self Assessment Returns
Self Assessment involves completing an online or paper tax return. You tell HM Revenue & Customs (HMRC) about your income and capital gains (profits on the sale of certain assets) on the tax return, or claim tax allowances or reliefs.
There are deadlines for sending your tax return in - and penalties and interest charges if it arrives late.
Not everyone needs to complete a tax return. If your tax affairs are straightforward you may already pay all of the tax due on your earnings or pensions through your PAYE (Pay As You Earn) tax code.
But you may need to complete a tax return if you have more complicated tax affairs, even if you already pay tax through PAYE. There are also certain circumstances in which you will always need to complete a tax return - for example if you're self-employed, a company director, a trustee or if you have foreign income.
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