The stress-free guide to Self Assessment

The following has been kindly provided by Jashoda Pindoria, Head of Self Assessment Operations, HMRC Self Assessment need not be daunting with HMRC's simple steps on getting started. Whether you are self-employed, a business owner or maybe you have a side hustle in addition to your day job, this guide is for you. What is Self Assessment and why do I need to do it? Self Assessment is the process used to declare and pay tax owed on untaxed income. If you are employed, then your employer will deduct any tax owed (Income Tax and National Insurance) before they pay you.

This is known as PAYE (pay as you earn) and is also known as being taxed at source. But if you have any additional income, which has not been taxed, you may need to do a tax return. If you don't have an employer deducting your tax or National Insurance, you may be required to do a Self Assessment tax return. Completing your tax return - FAQs. Top call reasons.