January might feel a long way off, but if you need to complete a Self Assessment tax return, there are plenty of good reasons not to wait until the deadline is looming.
The online filing deadline for the 2025/26 tax year is 31st January 2027, but at LEO Bookkeeping, we'd much rather help you get it sorted sooner.
And there's one particularly good reason to get your information to us before the end of October...
1. Avoid LEO's late information charge
Let's start with the one that could actually save you money.
If you want LEO Bookkeeping to prepare your tax return, please make sure we have all the information we need by 31st October.
Information received after this date is subject to an additional charge.
Why? Because the closer we get to January, the busier Self Assessment season becomes. Receiving everything early gives us the time to prepare your return properly, deal with any queries and avoid the January rush.
2. Filing early doesn't mean paying early
This is something many people don't realise.
If you submit your tax return early, you don't have to pay your tax immediately. Your normal payment deadline remains 31st January.
So why not find out what you owe now?
Knowing your tax bill several months in advance gives you time to plan for it rather than discovering the figure when you have just a few weeks, or days, to find the money.
3. You have time to find missing information
Can't find an invoice? Missing a bank statement? Need information from a pension provider or another source?
Discovering something is missing in September or October is an inconvenience.
Discovering it on 28th January is considerably more stressful!
Starting early gives you time to track down paperwork and answer any questions without the pressure of an approaching deadline.
4. If you're due a refund, why wait?
Not every Self Assessment ends with money being owed to HMRC.
If you've overpaid tax and are due a refund, submitting your return earlier means you can claim that money sooner. There's little benefit in leaving money with HMRC until January if it could be back in your bank account.
5. January is busy enough already
Running a business comes with enough deadlines without starting the new year worrying about last year's paperwork.
Getting your tax return completed early means it's done. No January panic. No hunting for receipts. No worrying about missing the deadline.
And we can concentrate on helping you start 2027 with your finances in good shape.
Ready to tick your tax return off the list?
If LEO Bookkeeping is completing your 2025/26 Self Assessment, or you'd like us to, don't wait until January.
Get your information to Lucie and the team by 31st October to avoid the additional late information charge and give yourself one less thing to worry about.
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