Why File Your Tax Return Early

Filing your Self Assessment tax return is rarely anyone’s favourite task. It’s often seen as complicated, time-consuming, and something best left to the last minute. However, leaving it until the deadline of 31 January 2026 for the 2024/25 tax year can lead to unnecessary stress and last-minute pressure.

HMRC wants to encourage all landlords and letting agents to consider filing their tax returns as early as possible. In fact, HMRC data shows that nearly 300,000 people filed their tax returns within the first week of the new tax year — almost ten months ahead of the deadline. By getting ahead, you can avoid the busy rush in January and have more control over your financial planning.

So why do so many wait until the last minute? Common reasons include not being aware of the deadline, feeling disorganised, worrying about the process, misunderstanding the benefits of filing early, or simply being too busy and putting it off.

Here are some good reasons to file your Self Assessment tax return early:

• Pay through your wages or pension: If you submit your return before 30 December, you may be able to pay any tax owed through your tax code, spreading the cost evenly across the following tax year. This can make budgeting much easier. You can check your eligibility for this payment method here: Pay Self Assessment tax bill through your tax code.
• Receive tax refunds sooner: If you have overpaid tax, filing early means you’ll find out sooner and get your refund faster.
• Better financial planning: Knowing your tax liability well in advance gives you time to budget and prepare. HMRC offers a Budget Payment Plan that allows you to spread your payments via weekly or monthly Direct Debits. For more details, search 'pay weekly or monthly' on GOV.UK or watch this helpful video: HMRC Budget Payment Plan – YouTube.
• Proof of income: Early filing provides documented proof of income, which may be required for mortgage applications, loans, or benefit claims.

Filing online is the most popular and secure way to submit your return, with over 97% of taxpayers choosing this method. You can file your Self Assessment tax return online here: File your Self Assessment tax return online.

Tax returns can be daunting. If you need help, HMRC offers support through their helpline and webchat services. Alternatively, you might prefer to ask a trusted friend, family member, or accountant to complete the return on your behalf. More information is available here: Self Assessment tax returns: How to get help.

For those with health issues or personal circumstances making online interaction difficult, HMRC provides an Extra Support Service. You can find details by searching for 'get help from HMRC if you need extra support' on GOV.UK.

If you believe you no longer need to submit a Self Assessment tax return, it’s important to let HMRC know as soon as possible to avoid penalties for late filing. For guidance on stopping Self Assessment, see: Stopping Self Assessment – YouTube.

We know that managing your rental properties is your priority. Getting your tax return done early means less hassle at tax time and more time to focus on what matters most — your properties and tenants.