Beat the January tax rush!
Self Assessment customers can help themselves by having their tax returns filed early and take advantage of four key benefits whilst doing this, HM Revenue and Customs (HMRC) has revealed.
The Self Assessment deadline for the 2022/23 tax year is 31 January 2024. Customers whose tax returns are filed early will have more control over their financial affairs and beat the January rush.
The four benefits to filing early are:
• planning: find out what you owe for the 2022 to 2023 tax year as soon as you have filed, which allows for more accurate financial planning
• budgeting: spread the cost of your tax bill with weekly or monthly payments using HMRC’s Budget Payment Plan
• refund: Check if you’re due a refund in the HMRC app once you’re tax return is filed
• help: you can access a range of online guidance and information to help you if you are unable to pay your bill in full by the 31 January deadline. You may be able to set up a Time to Pay plan
January is the busiest month for ourselves and HMRC’s phone lines. Customers are urged to check out the tips on filing your tax return early on GOV.UK and to supply us with any outstanding tax return or accounts information required as soon as possible.
We can offer support, if you have any questions about Self-Assessment, please get in touch, we’re here to help.
If you need to find out more information you may find this link useful – click here
