27/07/2023
Self Assessment Customers Urged To File Taxes Early
Urging self assessment customers to file their tax returns early, HM Revenue and Customs (HMRC) has highlighted "four key benefits".
The Self Assessment deadline for the 2022 to 2023 tax year is 31 January 2024. Customers who file early will have more control over their financial affairs and beat the January rush.
The four key 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.
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.
The Self Assessment deadline for the 2022 to 2023 tax year is 31 January 2024. Customers who file early will have more control over their financial affairs and beat the January rush.
The four key 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.
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.
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Northern Ireland WeatherToday:A largely cloudy day with occasional rain. Turning drier and brighter for a time in the afternoon and feeling very mild. Light southerly winds becoming strong with gales later along the County Down coast. Maximum temperature 13 °C.Tonight:Cloudy with outbreaks of rain, these heavy at times. Strong southerly winds, with gales in the evening across eastern counties, becoming westerly later. Minimum temperature 8 °C.