What is a Self Assessment? Self Assessment is how you tell HMRC about income that isn’t fully taxed through PAYE (your payslip). You complete a tax return, report all relevant income and reliefs, and pay any tax due. You’ll likely need one if you: Are self‑employed/sole trader (over the £1,000 trading allowance) Are a company director with untaxed income Earn rental income (landlord) Receive dividends/investment/foreign income Earn over £100,000 Need to pay the High Income Child Benefit Charge M
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