Paying taxes is a legal duty in the UK, but understanding how to report them can be confusing especially if you’re filing for the first time. A Self Assessment tax return is HMRC’s system for individuals who receive income not automatically taxed at the source. This includes freelancers, landlords, company directors, investors, and anyone earning extra income outside traditional...

What Is a Self Assessment Tax Return? A Self Assessment Tax Return is how you tell HMRC (His Majesty’s Revenue and Customs) about your income and calculate the tax you owe. Most people in the UK have their tax automatically deducted through PAYE, but if you’re self-employed or earn extra income that isn’t taxed automatically, you must file a return yourself. In plain words: if...