Taxpayers' responsibilities

Some people are under the impression that they only need to answer the questions that the tax authorities ask and that they do not have to volunteer any information about unusual gains or income they have received. Nothing could be further from the truth.

In fact, all taxpayers are responsible for ensuring that they pay the right amount of tax on the set payment dates. If you have to make tax payments, you are within the self-assessment system.

You have to complete an annual tax return and the onus is on you to provide HM Revenue and Customs (HMRC) with full details of all your income and you are also required to pay your tax, whether or not you receive a demand. If you do not receive tax returns you must notify HMRC if you have further tax to pay for any tax year by the following 5 October.

The aim of this briefing is to set out the main features of the self-assessment system.Last Updated