HM Revenue and Customs (HMRC) has reported that nearly 300,000 people have already filed their 2024/25 Tax Return, just weeks into the new tax year!
While the deadline isn’t until 31 January 2026, getting ahead of the game can bring significant advantages.
Filing sooner rather than later can help you:
- Take control of your budget – Knowing what you owe gives you more time to plan and set aside funds. You can prepare to settle your tax bill in July 2025 and January 2026, or spread the cost through regular tax payments.
- Get refunds quicker – If you’ve overpaid tax, HMRC will process your repayment sooner, meaning money back in your pocket faster.
- Reduce last-minute stress – Filing now avoids the January rush and frees up your time during the festive season.
- Benefit from PAYE adjustments – If you’re employed or receive a pension and owe less than £3,000 in income tax, HMRC may collect it in monthly instalments from April 2026 via PAYE—provided you file electronically by 30 December 2025.
You may need to register for Self-Assessment if you’ve:
- Started a self-employed business
- Joined a Partnership
- Begun renting out property
- Sold an asset that has appreciated in value (Capital Gains Tax may apply)
- Received income from savings, investments, or dividends (UK or international)
- Are entitled to claim Tax Relief
If you have a filing requirement, you must register for Self-Assessment before 5 October 2025. If you’re unsure about your reporting requirements, our private client tax advisers are happy to help—just call us at 01223 810100.
We’re always happy to make a head start on preparing Tax Returns. If your information is ready, simply send it over to your usual CKLG contact, and we’ll take it from there!
