What Is Self-Assessment?

Self-Assessment is a system HMRC uses to collect Income tax. Tax is normally deducted automatically from wages, therefore those who are self-employed need to file a Self-Assessment tax return to HMRC by the 31st of January each year they trade. Each tax year begins on 6th April and ends on 5th April.

What you’re entitled to claim any business-related expense depends on the nature of your business.

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