What is a self assessment

Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax.

If you have income that isn’t taxed through a pay-as-you-earn (PAYE) scheme, you’ll probably need to submit a personal tax return. If you’re self employed or a sole trader and your turnover was more than £1,000 or you’re in a business partnership, you must complete a return.

Filing is as easy as 1,2,3

02 - Send us your info

We’ll let you know exactly what we need to complete your tax return as quickly and efficiently as possible. You can send us the documents and information by email, post or through our secure online portal.

03 - Get filing

Once you’ve approved your Self Assessment, our expert accountants will submit your return with HMRC on your behalf.

You’ll get a copy of your completed self-assessment tax return by email along with a detailed breakdown of our tax calculations.

01 - Speak with us

One of our tax return accountants will ask a few questions and get to grips with your situation. Then we’ll tell you, clearly and simply, what kind of tax return support you need and confirm our fee quote.

Benefits of using PEGASUS Consultants for Self Assessment

Reviewed by qualified accountants

We check every Self Assessment before these are filed with HMRC to ensure we are extremely thorough.

Last minute assistance

PEGASUS accountants can complete and file your Self Assessment within three working days of your deadline. No need to panic because RR Accountants can ride to your rescue.

One-off fee

Our spectacular accounting team will complete a Self Assessment, and file it with HMRC, for a one-off fee

File to HMRC

PEGASUS accountants prepares all of the relevant information for HMRC. We just ask you a series of questions then get on with the task in hand.

Frequently asked questions about self assessment

What is self assessment in UK?

Self Assessment in the UK is a system where individuals and certain businesses are responsible for calculating their own tax liabilities and submitting tax returns to HM Revenue and Customs (HMRC).

How do i register for self assessment?

You can register for Self Assessment online on the HMRC website. You will need to provide details about your income, employment, and other relevant information.

How do i return HMRC forms?

Once you have completed your Self Assessment tax return, you can submit it to HMRC online using their official website. Alternatively, you can also send the forms by mail.

What is the process for filing self assessment?

Filing a Self Assessment involves gathering all relevant financial information, completing the tax return form accurately, and submitting it to HMRC by the deadline.

What is the deadline for filing self assessment?

The deadline for filing Self Assessment tax returns in the UK is usually October 31st for paper returns and January 31st for online returns, following the end of the tax year on April 5th.

How much is the penalty for filing late?

The penalty for late filing of Self Assessment tax returns can vary depending on the delay. It may start at £100 for being up to three months late, and additional penalties may apply for further delays or inaccuracies in the return.