Just 20 Days left until the Self-Assessment Filing Deadline for the 2022/23 financial year!

Did you know? Last year, over 10 million people filed their Self-Assessment returns online. As we approach the 31 January filing deadline, let's explore why filing your tax return early is a smart move and how cloud accounting can make it easier.

📊 Key Statistics from Last Year's Tax Season

• 12,060,872 Self-Assessment returns were due.
• 11,351,289 returns were filed by 31 January.
• Around 1 million customers missed the deadline.
• 10,965,993 returns (96.2%) were filed online.
• 385,296 paper returns were filed.

📊 New Year Filings: A Surprising Trend

• 25,593 returns were filed on New Year's Eve 2023.
• 127 taxpayers saw in the New Year by filing their tax returns between 00:00 and 00:59 on 1 January.
• 23,724 returns were filed on New Year's Day 2024!

🌟 Why File Early?

Financial Planning: Early filing gives a clear picture of your tax liabilities, aiding in better financial planning.

Avoid Penalties: Missing the 31 January deadline could mean fines. Filing early helps avoid these.

Peace of Mind: Knowing your tax responsibilities ahead of time offers financial clarity and peace of mind.

🌐 Transform Your Tax Filing with Cloud Accounting

With cloud accounting, your records will be kept in real-time:

• You’ll be able to take advantage of any tax planning opportunities before the tax year ends.
• You’ll be able to file your tax return soon after the tax year ends.
• You’ll know your tax liability well in advance and, therefore, will have ample opportunity to plan for this.
• You’ll be ready for the next phase of Making Tax Digital for Income Tax Self-Assessment.

📢 Ready to Streamline Your Self-Assessment Filing?

Our team is on hand to help, whether you would like us to help you choose the right software and get you up and running, get you set up, or whether you would like us to take care of your finances for you!

Don’t wait until the last minute.  Seize the opportunity to file early for more time to plan, less stress and to avoid any nasty surprises.  Get ahead of your taxes and embrace the convenience of cloud accounting today!  Contact our Digital Services Manager, Sarah Smith on 01942 292527, sarah.smith@jsllp.co.uk, or Lead Digital Advisor, Elaine Hardy, on 01942 292542, elaine.hardy@jsllp.co.uk to smarten your tax filing experience.