Tax return filing

Tax return filing

Why should I file my tax return early?


The deadline for filing your self assessment tax return is 31st January each year, however it can be done any time after 6th April. The deadline for payment is also 31st January. 

More than 77,500 tax payers submitted their returns on 6th April 2023. What are the benefits of filing early?

Cashflow planning

You will know how much you need to pay and when well in advance of any deadline. This will give those who haven’t saved for it time to save it. 

Remember in the first year that your tax bill is over £1,000 you enter the payment on account scheme and effectively pay 150% of the tax due which has a big impact on cashflow. (See payment on account blog).

If your tax bill is less than £3,000, you complete your tax return by 30th December and you have PAYE income you can choose to have your tax liability collected via your tax code. 

Peace of mind and to avoid the stress

When you hear the reminder adverts later in the year you won’t need to panic and you can relax over Christmas and new year instead of panicking that the deadline is looming. 

Get your tax rebate quicker

If you are due a tax rebate this can take anywhere between 5 days – 8 weeks (and in some cases, even longer!).

The main reason for the delays in issuing rebates is that HMRC are extremely busy, especially in January. Rebates also have to go through various security checks and if it fails any of these this will delay the repayment. 

Have everything you need to secure a loan or mortgage

When a self-employed person applies for a loan or mortgage they  will need an SA302 tax calculation as proof of income usually for the most recent year. 

SA302s are only available once your tax return has been submitted and therefore this may delay your application. 

Give you time to get expert help if required

I get multiple calls in January from people attempting their return themselves, only to get stuck and then seek advise.

Depending on how late you leave it you may find most accountants aren’t accepting new clients and therefore you might end up with one that isn’t a good fit with you. You may also be charged a premium! 

Fresh in your mind


The tax year is 12 months long and you have 10 months after this to complete your tax return. You could therefore potentially need to know what you bought 22 months ago if you complete your return last minute!


Avoid my fee increases


After a tough few years in which I have continued to fix my prices, I will be increasing my prices as of 1st October 2023. If you get your records to me before this date you will pay the current price. All clients will be contacted in due course to confirm their pricing. 


Set a date in your diary now to get your records in order and get them over to me well in advance of the deadline. You will feel so much better for it!