Paying personal tax: how it works and what you need to know

Self-employed, freelancing, earning rental income, or otherwise handling income not taxed at source? Or maybe you’re a high earner expecting to make more than £150,000 this year?

In all of these situations, and a few others, you need to get familiar with self-assessment – something which many dread. 

There are over 12 million self-assessment tax returns filed each year, so you’re definitely not alone! But here’s the good news: getting to grips with self-assessment is more straightforward than it appears.

Whether you’re navigating the gig economy, running your own show, or juggling various income sources, this guide is designed with you in mind. 

Read on to master self-assessment once and for all.