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.

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You must send a tax return if, in the last tax year, you were:

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• 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

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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:

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• Some COVID-19 grant or support payments

• Money from renting out a property

• Tips and commission

• Income from savings, investments and dividends

• Foreign income

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We can help you submit the correct tax return so you only pay the right amount of tax.