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SELF ASSESSMENT TEST: 2 Class: 3Subject: ComputerTime: 45minsF.M201. Answer the following: [12] a) How is Microsoft Word useful to us? [3] b) How will you save a file in MS word? [3] c) Which toolbar
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What is self assessment test?
A self assessment test is a method for individuals or businesses to evaluate their own tax liabilities, typically relating to income tax, to ensure they are reporting and paying the correct amount.
Who is required to file self assessment test?
Individuals and businesses with income that is not automatically taxed at source, such as self-employed individuals, landlords, and those with significant investment income, are required to file a self assessment test.
How to fill out self assessment test?
To fill out a self assessment test, individuals must gather their financial records, complete the relevant tax return forms online or on paper, and report their income, expenses, and deductions accurately before submitting it to the tax authority.
What is the purpose of self assessment test?
The purpose of a self assessment test is to allow taxpayers to declare their income and calculate their tax obligations, ensuring compliance with tax laws and facilitating the accurate collection of taxes.
What information must be reported on self assessment test?
Taxpayers must report details such as total income, allowable expenses, capital gains, tax reliefs, and any other income sources that may affect their tax liability on their self assessment test.
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