How to manage self assessment HM Revenue and Customs ” the tax man” uses Self Assessment in order to collect Income Tax. If a Self Assessment needs to be sent in, it must be filled out by the end of the tax year it is applicable to (5 April). It is necessary to keep records such as bank statements, receipts, cancelled checks, or copies of bills to ensure that you can properly fill in your tax return. HM Revenue and Customs will then calculate what you owe based upon what you report. If you would like HMRC to automatically collect tax from your wages or pension, you must pay your Self Assessment bill by 30 December. When managing a Self Assessment tax return, it is important to see how you qualified from the 6 April to 5 April following year. Once you figure out if you qualify for a Self Assessment tax return, the next step is to decide whether to send your return through an electronic or paper form. If you decide to electronically file, you must first register on the HM Revenue and Customs website and you will then have access to the HMRC free Self Assessment online service. You must use an electronic or paper form of filing to be able to send returns for a partnership, for a trust and estate, if you received income from a trust or you lived abroad as a non-resident, if you’re a Lloyd’s underwriter, or a religious minister. It is imperative that you use a paper form if you need to file a return for trustees of registered pension schemes (SA970). 31 October is the deadline for paper forms unless you are a non-resident company or if you are a trustee of a registered pension scheme. If you have any more questions regarding the management of self assessments then you may want to Phone HMRC Self Assessment department to discuss your enquiry.