If it feels like we have only just finished talking about the self-assessment tax return deadline, it is because the memory of the end of January panic lives on in our minds.
If you were one of the people caught up in the chaos, or even if you submitted your self-assessment tax return ahead of time, you may want to consider submitting it now.
With the start of the new tax year, it is worth considering the advantages of ticking your tax return off your to-do list as soon as possible.
When do most people submit their self-assessment tax return?
Ever since 6 April 2026, you have been able to submit your self-assessment tax return for the 2025/2026 tax year.
Given everything else that is going on in the world at the moment, doing this might not seem like the highest priority, but overlooking the advantages of early filing can be a costly mistake.
An estimated 1 million people missed the self-assessment deadline at the start of the year, meaning they will automatically face fines of £100 that may increase if they continue to not submit.
This is coupled with the 475,722 taxpayers who only submitted their self-assessment tax return on the final day.
Of these, 27,456 people submitted theirs in the final hour, presumably in a desperate bid to avoid fines.
The question arises every year concerning these 1.5 million people who either missed the deadline or waited until the last minute, not to mention the countless others who filed in January and December.
HMRC are overwhelmed with calls and webchats at these times of year and accountants attempt to offer last-minute advice and support for clients.
As such, one can only wonder why people subject themselves to this level of stress unnecessarily.
When is the best time to file a self-assessment tax return?
Now is the best time to file a self-assessment tax return.
Doing so enables you to control when you pay the amount of tax that you owe, rather than being stuck with a lump-sum bill.
You can spread the cost across the remaining months until January 31, at which point you should have either settled the amount in its entirety, established a clear payment plan with HMRC, or shifted the amount to your next year’s PAYE if this is an option for you.
Alongside this, if you have any questions or if you encounter any difficulties, you can get help before it is too late.
This may mean accessing HMRC’s helpline while it is relatively quiet, or seeking professional financial advice.
There are a range of considerations and exemptions that can be included in a self-assessment tax return, but the rules around them can be complicated and will need time to understand.
Our team can support you whenever you are ready to file your self-assessment tax return, but we would always recommend doing it as early as you can.
Speak to our team to find out more about the benefits of handling your self-assessment tax return early.
