Filing your Self Assessment early can save you a lot of pain in the long run. Drummond Laurie Chartered Accountants

You know it needs doing by the end of January, but you put it off, again and again, hoping that somehow it’ll do itself. Suddenly Christmas is past and you realise there’s no avoiding it…

You’re not the only one procrastinating – in January 2018, 2.6 million people (nearly a quarter of those due to file) had still not filed their return by the 29th January, leaving just two days to the January 31st deadline and 745,588 people still missed this in 2018. HMRC rakes in millions in fines from those filing late.

This may lead you to one conclusion: it makes sense to file early and we can help now!  Email us on or call us on 01324 441250.

If you’re still not convinced then read on.

It takes ages to register

That really depends on the time of year. Out of peak times it can take a fortnight or so, but if you wait until the January rush it could take far longer.

It gives you time to save

Although you may choose to file your Self Assessment early, your tax bill still isn’t actually due until January 31st.

You’ll avoid penalties

Filing early will obviously give you time to address any problems and avoid HMRC penalties.  For the uninitiated, those penalties are:

  • A £100 instant fine if you miss January 31st deadline
  • £10-per-day (for up to 90 days) if you haven’t filed by 30th April
  • £300 (or 5% of the tax you owe – whichever is greater) if you still haven’t filed after another 90 days
  • An additional £300 fine (or 5% of the tax you owe – whichever is greater) if you still haven’t filed within a year
  • Additional penalties if HMRC believes you are intentionally delaying your filing. 

HMRC’s call centres are always busy in January

Don’t leave it until January or you’ll have some lengthy hold times and not to scare you, but with further departmental budget cuts, it looks set to get even worse. If you’ve ever attempted to get in touch with HMRC’s personal tax helplines in January, you’ll know what we mean. The taxman doesn’t have the best reputation for customer service!

It might not all be bad news

Some lucky business owners (especially those who mix self-employment with salaried employment) will be owed a tax refund. If you’ve overpaid tax during the last year, HMRC will let you know when you file your Self Assessment and give you it back.

Your Christmas won’t be ruined

We can help, give us a call and don’t suffer that January dread!