Self Assessment

A Self Assessment is a compulsory tax return issued by the Inland Revenue after the end of the financial year (5th April). This return is a declaration of your earnings throughout the financial year and must be submitted by the 31st January the following year.

The people who need to use self assessment include:

• A Director of a Limited Company
• Self Employed
• Working through the Construction Industry Scheme (CIS)
• A higher income earner (fall in the 40% tax band)
• Pensioners with complex tax affairs
• Receive income from land or property in the UK
• A Trustee or personal representative or Non-resident company landlord