Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax.
Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a return.

Find out more about self assessment from the website.


If you need to send a tax return and you miss the deadline for submitting it or paying your bill you will get a penalty fine.

The penalty for a return submitted up to 3 months late is £100. You'll have to pay more if it's later, or if you pay your tax bill late. Interest is also charged on any late payments.


You must complete a self assessment return if, in the last tax year (6 April to 5 April), you were:

  • Self-Employed as a 'sole-trader' and earned more than £1,000
  • a partner in a business partnership

You will not usuall need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as:

  • money from renting out a property
  • tips and commission
  • income from savings, investments and dividends
  • foreign income

Check if you need to send a tax return if you're not sure.


Genius Tax offers a Service charged at £5 per week for self-employed persons (based on a standard self assessment return).
We run a first year introductory discount for anyone who chooses to use our service of £199.

This service includes the following:

  • Complete and Submit your tax return to HMRC
    Your dedicated Genius Accountant will compile your tax return from all the information you provide and with your acceptance of the completed return file it with HMRC.
  • Record mileage you wish to claim for using your Genius Portal
    Login to your Genius Portal and easily and accurately record your mileage, ready to claim back within your return.
    Genius Worker Portal - Record Mileage
  • Access to the QuickFile iOS/Android Mobile App
    The app allows you to take photo's of your expense receipts to make claiming easier. It means no lost receipts guaranteeing that you receive the maximum rebate possible.

Genius Money Limited subscribes to the promotion of high standards, ethical awareness and best practice. As part of those standards, engagement terms are issued, and Service Level & Price are finalised and agreed prior to any work being undertaken.

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