How Early Can I Submit My Self-Assessment Tax Return

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When can you submit your Self-assessment tax return? The good news is that you can immediately start. Submitting your tax return early can have several advantages. In this simple guide, we’ll explain when you can start the process and why it might be a good idea to get it done sooner rather than later.

When Can I Start My Self Assessment?

The tax year in the UK runs from 6th April to 5th April of the following year. You can start working on your Self-Assessment tax return for a particular tax year from the day after that tax year ends.

For example, let’s say you want to submit your tax return for the 2023/24 tax year. This tax year ends on 5th April 2024, so you can start your Self-Assessment for 2023/24 from 6th April 2024 onwards.

Why Submit Your Tax Return Early?

While the deadline for submitting your online tax return is 31st January following the end of the tax year (so 31st January 2025 for the 2023/24 tax year), there are several good reasons to get it done earlier:

1. Get Your Tax Refund Sooner: If you’re due a tax refund, submitting your tax return early means you’ll get your money back sooner. This is particularly relevant for CIS subcontractors, who often receive tax refunds.

2. More Time to Claim Expenses: Rushing your tax return at the last minute increases the risk of making mistakes or forgetting to claim all your allowable expenses. Starting early gives you more time to review everything properly, claim all the expenses you’re entitled to, and reduce your tax bill.

3. Easier to Get Help: If you need Help from an accountant or bookkeeper, they’ll likely be less busy earlier in the tax year. Starting your Self Assessment early means you’ll have more time to ask questions and get advice.

4. Less Stressful: Tax returns can be stressful, and a large tax bill can be even worse. By getting your Self-assessment done early, you’ll know exactly what you owe and have more time to plan your finances. This is especially important if your tax bill is over £1,000 and you must make Payments on Account.

5. Avoid Late Registration: If you’ve never submitted a Self-Assessment, you’ll need to register first. This process isn’t instant—it can take a few days to receive your confirmation letters. By starting early, you avoid missing the registration deadline (usually 5th October following the end of the tax year).

Do I Have to Pay My Tax Bill Early?

Just because you can submit your tax return early doesn’t mean you have to pay your tax bill early, either. The payment deadline is the same regardless of when you submit your return—usually 31st January following the end of the tax year.

However, submitting early does give you more time to budget for your tax bill. It’s less stressful than scrambling to find the money at the last minute or facing penalties for late payment!

What Are the Key Deadlines?

While you can start your Self Assessment early, there are still some key deadlines to be aware of:

  • 5th October 2024: If you need to submit a tax return for 2023/24 but didn’t need to for the previous year, register for Self-Assessment by this date.
  • 31st October 2024 (midnight): The deadline for submitting a paper tax return for 2023/24.
  • 31st January 2025 (midnight): This is the deadline for submitting your 2023/24 tax return online and for paying your 2023/24 tax bill.

It’s important to meet these deadlines to avoid penalties.

You can start your Self Assessment tax return from the day after the tax year ends – so for the 2023/24 tax year, you can start from 6th April 2024.

Submitting your tax return early has several benefits, including getting your refund sooner, more time to claim expenses and seek advice from accountant london, reduced stress, and avoiding late registration risk. Remember, you can still wait until the usual deadline (31st January) to pay your tax bill. So, why start planning for your next Self Assessment today?


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