New Tax Year is Here

As most of you know, the new tax year starts on April 6th here in the UK. As of yesterday, self-employed people can now file their tax returns for 2024/2025. The deadline for these is January 31st, 2026, but I strongly advise my clients to do it as early as possible. Here are a few reasons why:

❗️It gives you peace of mind by getting it out of the way well before the deadline.

❗️You’ll also find out sooner how much tax you owe, giving you more time to budget or plan for payment by the 31 January deadline. I have many cases in my practice where a client files their tax return in January and is unpleasantly surprised by the amount of tax due. Because they have difficulty paying it by the deadline, they are charged interest and late payment penalties.

❗️If you’re due a refund, you’ll receive it sooner too.

Early submission also reduces the risk of last-minute mistakes and avoids the stress of dealing with potential delays or system issues closer to the deadline.

Overall, it’s a simple way to stay organised and in control of your finances.💷

📌If you have questions and difficulties with the 2024/25 tax returns, you can contact a licensed accountant with many years of practice in the UK:

📞07939 952432

💌finance@nadaccountingservices.co.uk

🌏nadaccountingservices.co.uk