What Is Self-Assessment?

[erwinsmith]

I keep hearing about self-assessment in relation to taxes, but I’m not exactly sure what it involves. Can someone explain what self-assessment means, who needs to do it, and how the process works? Any guidance or tips would be really appreciated.

 

[Rick_Grimes]

Self-assessment is when you evaluate your own skills, performance, or knowledge. In taxes, it specifically refers to reporting your income and calculating the tax you owe yourself, instead of having it deducted automatically.

 

[Lucky]

Self-assessment is the process of evaluating your own work, progress, or abilities. In education or personal growth, it means reflecting on strengths and weaknesses to improve. In taxation, self-assessment refers to individuals calculating and filing their own taxes, reporting income, and paying dues directly to authorities. It encourages responsibility, self-awareness, and better decision-making overall.

 

[Emly]

Self-assessment is the process of evaluating your own performance, skills, or behavior. It involves reflecting on your strengths, weaknesses, and progress to gain a better understanding of yourself. This can help you set goals, improve performance, and take responsibility for your own growth in areas like education, work, or personal development.