Self-Assessment

(redirected from Self assessment)
Also found in: Dictionary, Medical, Acronyms, Wikipedia.

Self-Assessment

In taxation, any system that allows the individual taxpayer to determine how much he/she owes in taxes. In a self-assessment, the taxpayer declares his/her income, makes deductions and credits, and arrives at the amount owed. A self-assessment is subject to review (and perhaps an audit) by the tax authorities.
References in periodicals archive ?
The 2010 Fair Lending Self Assessment Review gives financial institutions insights into their data so they can explain or credibly defend their numbers.
And they say self assessment could add another pounds 1 billion to that.
Self Assessment will affect everyone who gets a tax return.
Parents on higher incomes who continued to receive Child Benefit after January 2013 have been reminded that they must register for Self Assessment by 5 October 2013 to avoid any penalties in relation to the High Income Child Benefit Charge.
However, an alternative is to file online - which threequarters of self assessment filers already do - taking advantage of a threemonth extension to the deadline for online returns.
More than 9million people file a Self Assessment tax return every year, including around 79,000 people in the LL postcode area.
Self assessment was introduced in 1997 for the self-employed, company directors, people with business partners and higher-rate taxpayers.
uk predicts that five per cent of all self assessment forms will include errors resulting in fines this year.
Around 100,000 people in the county have been sent self assessment forms this year and HM Revenue and Customs is urging those who have not filed their return to do so online at www.
YOUR Self Assessment Tax Return is due ' soon, why not see if the questions below can help you:
This theoretical paper is intended to lay the groundwork for reconciling student self assessment with instructor grading, particularly in professional programs.
uk, said: "The penalties for those who return their self assessment forms late or incorrectly are unforgiving.