Overview - self assessment
In this overview lesson, you'll learn what self-assessment is and why it matters for your tax studies. Self-assessment is the system HMRC uses to collect tax from individuals who have income beyond standard employment—such as business income, capital gains, or other sources.
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In this lesson
- 0:00 Self-assessment for individuals overview
- 0:24 What is self-assessment and how it works
- 1:05 Tax year structure and Finance Act 2025
- 2:02 Amending tax returns and HMRC rights
- 2:50 HMRC determinations when returns aren't filed
About this lesson
You'll explore the key administrative framework: tax years, filing deadlines, amendment rules, and HMRC's determination powers. This foundation is essential for understanding the compliance checks, penalties, and interest payments covered later in the module, and it's directly examinable under Finance Act 2025.
Duration: 4m
Transcript
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