Not everyone needs to complete a personal self-assessment tax return, particularly if you already pay your tax and National Insurance through your salary or wages. However, if you are self-employed or a company director you will always need to do so, and you may need to do a one off return if you are in receipt of certain types of income or you have disposed of an asset triggering a capital gain.
Self-assessment involves completing a tax return each year. You show your income and any capital gains on disposal of assets and also claim tax allowances or reliefs on each annual tax return.
You will always need to complete a self-assessment form if you are:
- a company director
- a trustee
- receiving rental income or foreign income
- or if you have complex tax issues
websters’ team of tax advisers and accountants make the whole process simple and efficient whilst remaining cost sensitive.