Hi Sam,I live in the UK, since 2007, and have worked here in two different companies since May 2007.I recently was told that i had gone over a Tax bracket and have to submit self assessment forms for tax. My salary went up to £75K (Annually) and i also received a bonus of £35K which has all had tax paid on it before being paid to me (Which was painfully high )I am just not aware of why i have to submit tax forms, where to start and what does it mean to submit self assessment forms (do i have to pay more tax now??? etc...J
Thanks Sam,This is all very helpful - as someone who is not familiar with tax and the tax laws, i have no idea where to start to do any of the above mentioned.Do i just download the forms online and then send them to the HMRC or would you recommend having a tax consultant check them before i submit them. I am told that there are many questions on the forms themselves that i will not be able to answer or even know what they are talking about?
I don't have any other income from any other source.
Would it be wise to find a tax consultant to do check and submit these annually for me, or could i just fill them in and the HMRC will let me know what is wrong with them?J