Self Assessment customers encouraged to file tax returns early

HMRC is encouraging Self Assessment customers to take advantage of the benefits of filing their tax returns early for the 2022/23 tax year.

While the deadline for submissions for the 2022 to 2023 tax year is 31 January 2024, HMRC argues customers who file early can have greater control over financial affairs and beat the January rush. The tax office gives four main benefits for getting Self Assessment returns in early:

• Better planning: finding out what is owed for the 2022 to 2023 tax year as soon as you have filed allows for more accurate financial planning
• Easier budgeting: having more time to pay means you spread the cost of your tax bill with weekly or monthly payments, or take advantage of HMRC’s Budget Payment Plan
• Quicker refunds: 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

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.”

HMRC also provide a wide range of help and support online to aid with filing returns. Customers can access a new online tool to check whether they need to do a Self Assessment tax return, with digital assistants, a live chat service and webinars and videos all available to help with filing. The Self Assessment helpline is temporarily closed and will reopen on 4 September 2023.

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.