What is a Self Assessment tax form SA100?
Most people pay tax on their earnings through a PAYE scheme where tax is deducted on behalf of HMRC by their employer. Those that are employed don’t usually have to complete a Self Assessment tax return. If you are not on a PAYE scheme or need to pay tax on other income earned such as from property, dividends or investments, you account for your income using Self Assessment. It is mainly for the self employed, sole traders or company directors. If you supply figures to HMRC by the 30th Sept they will calculate the tax for you and payment is due 31st Jan.
