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Self-Assessment

Self-Assessment is a process for HM Revenue and Customs (HMRC) that uses to collect Income Tax from individuals.

Tax is usually deducted automatically from wages, pensions, and savings. People and businesses with other income must report it in a self-assessment tax return. You must send a tax return if, in the last tax year (6 April to 5 April), you were:

  • self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
  • a partner in a business partnership

You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:

  • money from renting out a property
  • tips and commission
  • income from savings, investments, and dividends
  • foreign income


Please contact Priority Accountancy to assists with followings:

  • Individual’s tax planning & computation
  • Tax Returns preparation & submission
  • Dealing with HMRC
  • Correspondence with HMRC
  • Tax dispute and computation of tax liabilities
  • All other aspect in relation to personal tax
  • Tax enquiries and so on.