Self Assessment is a 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 (including COVID-19 grants and support payments) must report it in a tax return.
You must send a tax return if, in the last tax year, you were:
Self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
A partner in a business partnership
You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:
Some COVID-19 grant or support payments
Money from renting out a property
Tips and commission
Income from savings, investments and dividends
We can help you submit the correct tax return so you only pay the right amount of tax.