Self-Assessment Tax in the UK: A Complete Guide
Self-Assessment is the system used by HM Revenue & Customs (HMRC) to collect income tax from individuals who don’t have it deducted automatically through PAYE (Pay As You Earn). If you’re self-employed, earn additional income, or meet certain criteria, you must file a Self-Assessment tax return each year. Who Needs to File a Self-Assessment Tax […]
Understanding UK Tax: A Comprehensive Guide
The UK tax system can seem complex, but having a clear understanding of how it works can help individuals and businesses navigate their obligations effectively. This guide provides an overview of key aspects of taxation in the UK, including income tax, VAT, corporation tax, and other essential levies. 1. Income Tax Income tax is the […]