December 17, 2022

Self assessment tax return is a way which HMRC uses to collect Income Tax, Wages, pensions, and savings are often taxed automatically. Other income (including COVID-19 grants and support payments) must be reported on a tax return by individuals and enterprises.

Self Assessment is a way through which you declare the income and gain for the tax year and pay your tax. If you are doing self assessment for the first time or haven’t filed for last year. Then you will need to register for Self Assessment with HMRC.