5 reasons why it pays to get your tax returns in early

Date 11th July 2017 //
Author Dunkley's Chartered Accountants

With the deadline for your self-assessment returns many months away, it is easy to push that job to the back of your mind. But dealing with it now means you can get it out of the way.

With the support of a professional accountant the process can be quick, simple, painless and could even mean you end up with more money in your business.

Here are 5 reasons why you should file your self-assessment returns early:

• It gives you added peace of mind and more time to plan your financial future.

• You avoid those pesky fines and penalties which come from missing your deadline

• If your business has overpaid tax previously or you suspect you are due a personal rebate – why wait? You can free up the money you would have paid in tax as cash for your company.

• If you work or collect a pension along with having other financial interests, your self-assessment bill can be collected monthly through your tax code when filed early.

• Mistakes will happen but if they occur near the deadline they could prove costly. Delays equal penalties. Allowing plenty of time to amend any errors on self-assessment forms can prevent additional costs.

Need help with tax issues, self-assessment or filing your returns, contactDunkley’s Chartered Accountants on 01454 619900 to book an appointment.