Self Assessment Tax Returns
Guidance on self-assessment tax returns for self-employed individuals by the UK government.
gov.uk
Self Assessment is the process of calculating, reporting your income and paying your taxes to HMRC each year.
When you’re self-employed, you need to register with HRMC to explain that you’ll be responsible for calculating and reporting your own income and tax liability, rather than being taxed at source by an employer.
Once registered, you’ll be required to complete a tax return, detailing your income, expenses and tax liability each year, and then pay HMRC the appropriate amount.
This is a legal obligation, once you’ve made over £1000 of income that is not taxed.