It is time for us to start chasing your self-assessment tax returns. Sorry! We know that it is human nature to let things you don’t like get pushed down your ‘to do’ list, but there are lots of reasons to get your information to us as soon as you can.

• It could actually be easier and save you time to get on and file your tax return early. You will have more time to gather all the information whilst it is fresh in your mind rather than racing around at the last minute when details might be forgotten or paperwork misplaced.

• The earlier your tax return is filed, the sooner you know what tax you will have to pay, and the more time you will have to find the money to pay it. We are already seeing some really surprising tax bills when our self-employed clients have their Self Employed Income Support Scheme grants added to their taxable income (yes, they are taxable!). Make sure you know exactly where you stand. Just to let you know the tax payment deadline will always be the 31^st January regardless of when you do your tax return – doing your tax return early does not mean you have to pay the tax any earlier!

• For those of you stuck in the world of payments on account, the next payment falls due on 31 July. If your income has gone down year on year, which could well be the case due to COVID, then you may not have to pay as much as expected. If your tax return is filed before 31 July then you will know whether you have to pay the whole of the next payment on account.

• Due a refund? You want to get your tax return in early to claim this. HMRC refunds are taking a lot longer so the sooner you get your tax return in then the sooner any overpaid tax will be returned.

• Imagine having a Christmas and New Year without the thought of having a tax return to do and a looming (and unknown!) tax bill. Sounds good to us too, as usually January is a VERY busy month for us.

So let’s work together to get the tax returns filed as soon as possible. Just send through your information to your usual contact or pop into the office (we are open as usual). Any questions? Please just get in touch.