With only 100 days remaining until the 31 January deadline, it’s time to start thinking about your Self Assessment tax return. The clock is ticking, and if you haven’t filed your return or paid any tax owed yet, it’s important to get started now.
At this point, over 3.5 million people have already submitted their returns. If you haven’t joined them, don’t worry—there’s still time, and preparing early comes with plenty of benefits.
Why File Early?
- Avoid Last-Minute Panic
Waiting until the last moment can lead to mistakes, stress, or even missed deadlines. By starting early, you give yourself time to carefully review your information and file an accurate return. - Know What You Owe Sooner
Filing early means you’ll know how much tax you owe well before the deadline. This can help you manage your finances better, giving you more time to budget and avoid any surprise tax bills. - Access Support and Guidance
If you’re unsure about anything, filing early gives you the opportunity to seek help without feeling rushed. HMRC has plenty of guidance available on GOV.UK to walk you through the process.
How to Get Started
Filing your Self Assessment might seem like a daunting task, but it doesn’t have to be. If you haven’t yet, gather all the necessary documents, such as income details and expenses, and log into your HMRC account. There, you’ll find step-by-step instructions to help you through the process.
It’s always a good idea to seek advice from a professional if you’re unsure about your tax situation. A accountant can help make sure you’re claiming any reliefs or deductions you’re entitled to and help prevent costly mistakes.
Don’t Leave It Too Late
As we approach the end of the year, it’s easy to let the deadline creep up on you. By taking action now, you can file your return with confidence, avoid penalties, and start the new year stress-free.
If you need any help with your Self Assessment, feel free to get in touch. We’re here to make the process easier for you.