Welcome to the new tax year! We hope it’s a prosperous one for you. We’re here to help you maximise your business finances, opportunities, and decision-making throughout the year, and one of the first ways we encourage you to do that, is to think ahead and get an early start on your tax returns. As you’ll come to know, Suzanne’s motto is: “treat a new tax year as a starting line, not a finishing post!” Submitting your tax return early has numerous benefits. These five reasons demonstrate how early submission benefits you, so you can start the tax year as you mean to go on.
Why Submit Your Tax Return Early?
Completing your tax return ahead of time can help reduce stress, unlock potential savings, and offer peace of mind. Submitting your tax return early can make a huge difference, as:
1. If you’re Due a Refund, You’ll Get It Sooner
If you’re due a refund, the earlier you submit your tax return, the sooner HMRC will process it and send your refund. By taking action now, you could have that extra money back in your account well before the usual rush, giving you more flexibility to invest, save, or cover unexpected expenses.
2. We can Adjust Payments on Account
Submitting your return early also allows us to adjust any payments on account before the July deadline. This means you could avoid paying too much or too little, ensuring your financial planning for the year is on track without surprises. Click here to understand more about payments on account.
3. More Time to Save for a Higher Tax Bill
One of the biggest benefits of early submission is having the clarity that allows you more time to plan financially. If your tax bill is higher than expected, getting your tax return in early gives you ample time to set aside the necessary funds. This way, you’re not scrambling at the last minute or dipping into savings to cover an unanticipated amount.
4. It Will Reduce Stress as Deadlines Approach
No one enjoys the anxiety that comes with looming deadlines, especially when it involves your finances. Submitting your tax return early eliminates the last-minute rush and the risk of missing critical deadlines or receiving fines, giving you more breathing room to focus on running your business and enjoying life.
From our side as your accountants, we spend the whole year planning, mapping and monitoring our client workload, so that we don’t have our own internal stresses trying to manage too many tax returns too close to the deadline. This helps us to be able to manager our time and serve you better as clients, as we can offer you so much more value than just doing your tax returns!
5. Don’t Miss Out on Our Early Bird Discount!
Our bonus reason is that for the second year running, we’re offering an Early Bird Discount to clients who get all their tax return information to us by the end of May. This means you’ll not only reap the benefits of submitting your return early, but you’ll also save money while doing it. It’s a win-win!
Here to Help
If you have any questions about your tax return or want to take advantage of the Early Bird Discount, we’re just an email away. Send us a message at info@streamlineaccountants.co.uk, and we’ll be happy to assist you. The sooner we have your information, the sooner we can get your return sorted! Let’s make this tax year stress-free and successful together!
