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MGMT201 Leading Self S1 Day 2015 Dept of Marketing and ManagementContents General Information2Learning Outcomes2General Assessment Information3Assessment Tasks3Delivery and Resources5Unit Schedule6Learning

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What is self-assessment and your right?

Self-assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax. Taxpayers are responsible for declaring their income and calculating how much tax they owe.

Who is required to file self-assessment and your right?

Individuals, sole traders, partners in a business, and some trustees are required to file self-assessment tax returns.

How to fill out self-assessment and your right?

Taxpayers can fill out self-assessment forms online using the HMRC website or by using commercial software. They need to provide details of their income, expenses, and any other relevant financial information.

What is the purpose of self-assessment and your right?

The purpose of self-assessment is to ensure that taxpayers pay the correct amount of tax based on their income and expenses. It helps HMRC assess and collect taxes more efficiently.

What information must be reported on self-assessment and your right?

Taxpayers must report their total income, including earnings from employment, self-employment, investments, and any other sources. They also need to declare deductible expenses and claim any tax reliefs they are eligible for.

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