When it comes to self-assessments, most people fall into one of two groups. The first group starts gathering information months in advance, keeps everything organised and submits their tax return without a hitch. The second group spends January frantically searching through emails, bank statements and paperwork, trying to remember whether they received interest, dividends, pension
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Although not everyone is required to file a self-assessment tax return, there are a few circumstances in which you may be compelled to do so, even if you are an employee who has tax taken at source from your salary. It’s crucial to be aware of scenarios where a tax return is required because HM