We’re past the middle of the month, and all over the country there are accountants burning the midnight oil working on the flood of tax returns that still need to be prepared before the filing deadline of the 31st January.
HMRC estimated that 5.4 million, almost 50% of the 11 million that are due to be submitted, were still outstanding as of the 31st December.
Thanks to our clients though, who have listened to our pleas to get their information to us in good time, we won’t have to join the masses who are working late and over the coming weekends.
The last of our Tax Returns went out for signature last week, and now we just need those few clients to check and sign them so that we can submit.
There are obvious benefits to getting your Return done sooner rather than later:
- You will know what tax you have to pay, and be able to plan for finding the cash required.
- You’ll receive any refund into your bank account earlier.
- We also have more time earlier in the year, to make sure your affairs are given enough time to be properly considered, rather than just rushed through.
As we no longer have a team to delegate to, it’s reassuring to get as many Returns underway as early as possible, even if we need to add details from company accounts once that becomes available. Our clients have listened to us and made sure we had their information in good time and have seen the benefits!
We’re extremely grateful that so many of our clients heeded our requests and helped us to get the Returns prepared in good time this year and just wanted to say a huge ‘thank you‘ to all of them.
Still worried about your Tax Return? There’s still time to get it to HMRC before the deadline, but there are some key considerations.
Remember too, that submitting the Return is only half of the task! You also need to pay any resulting tax by the 31st January as well. You can find out how to do that here.