Bury Accountancy

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Filing self-assessment tax return can be a daunting task for many individuals. The complexity of the process often leaves taxpayers feeling overwhelmed and confused. However, with the right guidance and knowledge, navigating through this maze can become much easier. In this comprehensive guide, we will provide you with step-by-step instructions on how to complete your self-assessment tax return accurately and efficiently. Understanding Self-Assessment Tax Returns Before diving into the process of filing your self-assessment tax return , it is essential to have a clear understanding of what it entails. Self-assessment is a system used by HM Revenue and Customs (HMRC) in the United Kingdom to collect income tax from individuals who are not taxed at source, such as self-employed individuals or those earning income from investments or rental properties. Self-assessment tax returns are used to report various types of income, including: Employment income Self-employment income Rental incom

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