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The system for filing a tax return and paying tax if you are self-employed or have complex tax affairs.
Self Assessment is HMRC's system for collecting Income Tax and National Insurance from people who do not have all their tax deducted automatically through PAYE. This includes self-employed individuals, company directors, landlords, and anyone with income over £10,000 from savings or investments. You must register for Self Assessment, file an annual tax return (usually by 31 January), and pay any tax due.
This definition is for informational purposes only and does not constitute tax, legal, or financial advice. Rules may change and outcomes depend on your circumstances.
These GOV.UK and HMRC sources provide the official context for this glossary entry. The definition is educational and does not determine your individual tax position.