HMRC is reminding taxpayers that there are under 100 days left until the self-assessment deadline on 31 January.
The Revenue is encouraging people to get their self-assessment filed as soon as possible, so it's easier to keep on top of what tax they owe by the deadline.
Also, if tax is paid earlier, any rebate or refund will be paid back sooner.
Figures from HMRC show that more than 66,000 taxpayers filed their returns on 6 April 2022, the first day of the new tax year.
Myrtle Lloyd, HMRC director general for customer service, said:
"With 100 days to go until the online deadline, there's still time to complete your tax return, to budget and look into the range of payment options if you need to.
"Help and support is available online to help costumes with their tax returns. Just search self-assessment on gov.uk to find out more and get started."
How to stay ahead of your self-assessment
There are a number of dates to keep in mind when thinking about your self-assessment tax return.
The new tax year falls on 6 April each year, after which time taxpayers have until 5 October to register for self-assessment if they are self-employed or a sole trader or registering a partner or partnership, unless they are already registered.
Taxpayers then have until midnight on 31 October to submit their paper self-assessment tax return.
If you are filing your return via post, it is recommended to send it off with plenty of time to spare; otherwise, you risk missing the deadline and could face a penalty by HMRC.
For anyone filing online, their tax returns will have to be submitted by midnight on 31 January and tax paid.
The earlier you submit your tax return, the clearer picture you will have of how much you may owe over the next year. In doing so, you can plan your taxes accordingly by either saving or paying an instalment each month.
If you cannot pay your bill
If someone cannot meet their tax obligations with HMRC, they need to contact them immediately.
HMRC will usually suggest an instalment plan called a time to pay arrangement.
A time to pay arrangement can be set up if the taxpayer:
- has filed their last return
- owes less than £30,000
- set up within 60 days of the payment deadline
- plans to pay off the debt within 12 months or less.
If there has been no attempt at contacting HMRC, you will be contacted via post, texts or even a home visit.
HMRC may ask a debt collection agency to collect the money owed or collect what is owed directly from wages or monthly pension payments.
In some cases, HMRC will take someone to court or make them bankrupt if the payment is not settled and no attempt to repay has been made. This is usually a worst-case scenario.
Ask us about your self-assessment tax return.