Getting your Self Assessment tax return filed early!

Getting your Self Assessment tax return filed early!

Did you know that nearly 300,000 people submitted their self assessment tax return in the first week of the new tax year – so why not get in touch with us here at Kennedys Accounting and get yours filed too.

So….what are the advantages of getting this ‘job’ completed early in the tax year?  

Even though you have until the 31‌‌‌‌ ‌‌January 2025 to file your 2023/2024 return and pay any tax you may owe, there are many benefits to submitting your tax return early, including;

• find out sooner if you’re due a refund and get it quicker. 
• pay in instalments to help with your budgeting or save regular amounts each month to be able to pay the bill by the deadline.
• get help if you can’t pay your self assessment tax – the sooner you ask HMRC for a ‘time to pay’ arrangement, the easier it will be.
• avoid the pressure and stress of doing it at the last-minute and having to locate all the old records you may need – the sooner you do it the fresher it will all be in your mind.
• You may need to use your tax return as proof of income for a mortgage, remortgage, loan or any benefit claims.

Also – just because you are early filing does not mean you have to pay straight away. You will find how much tax you owe (if any) which will not have to be paid until 31‌‌‌‌ ‌‌January 2025. 
 
We’re here to help – so please get in touch.