Self-Assessment customers can help themselves by filing their tax return early

The Self-Assessment deadline for the 2022 to 2023 tax year is 31 January 2024 but there are many benefits to filing earlier.

The four benefits to filing early are:

Planning: find out what you owe for the 2022 to 2023 tax year as soon as you have filed, which allows for more accurate financial planning

Budgeting: spread the cost of your tax bill with weekly or monthly payments using HMRC’s Budget Payment Plan

Refund: Check if you’re due a refund in the HMRC app once you’ve filed

Help: you can access a range of online guidance and information to help you file your return and get help if you are unable to pay your bill in full by the 31 January deadline. You may be able to set up a Time to Pay plan

Penalties for Non-Compliance: HMRC has implemented penalties for non- compliance with MTD requirements. The specific penalties depend on the type of tax and the taxpayer's circumstances. It's important to ensure compliance with MTD obligations to avoid penalties.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said:

Customers who file their tax return early get to see exactly what they owe and have more time to budget, reducing the stress around Self- Assessment.

Given that January is the busiest month for HMRC’s phone lines, I urge customers to check out the tips on filing your tax return early on GOV.UK and to consider doing so themselves.

There is lots of help and support available online:

customers can access the new online tool to check whether they need to do a Self-Assessment tax return.

HMRC’s top tips for filing tax returns early can be found on GOV.UK.

ask HMRC’s digital assistant to find information about Self- Assessment. If they cannot help, chat live with an HMRC webchat adviser.

access webinars and videos about Self-Assessment

Customers need to be aware of the risk of falling victim to phishing scams and should never share their HMRC login details with anyone, including a tax agent, if they have one. HMRC scams advice is available on GOV.UK.