self-assessment
n. A system requiring taxpayers to assess their own tax liabilities. Stamp duties have relied on self-assessment since the enactment of Stamp Duty Act 1697. VAT has required taxpayer self-assessment since its introduction in 1973.
Since 1997, income tax and capital gains tax have required the taxpayer to calculate taxable income and any capital gains using all the complexity of the Taxes Acts. If a market value for an asset is required, the taxpayer must supply it. If information is not available until after the due date for the submission of a tax return (normally 31 January the following fiscal year), the taxpayer must supply an estimate. The liability calculated by the taxpayer himself under the self-assessment process is a debt that can be collected, if necessary, by County Court or High Court action, even though the Revenue has taken no action to create the debt. A company, similarly, produces its own self-assessment to corporation tax.
https://www.gov.uk/self-assessment-tax-returns
• Guide to self-assessment from the GOV.UK website
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