The 31st of January might feel like a far-off deadline, but when it comes to your self-assessment tax return, time has a way of slipping by faster than you think. At Bidwell Accountancy Ltd., we understand how life gets busy, and tax returns often fall to the bottom of the to-do list. However, delaying could lead to unnecessary stress, avoidable penalties, and missed opportunities to optimise your finances. 

 

Here are five compelling reasons why you should prioritise filing your self-assessment tax return before the 31st January deadline—and why Bidwell Accountancy is here to help if you haven’t started yet. 

 

 

Missing the 31st January 2025 deadline comes with immediate consequences. HMRC imposes an automatic £100 penalty for late submissions, even if you have no tax to pay or if you’re due a refund. Additional daily penalties can quickly add up the longer you delay. Filing on time eliminates the risk of these costly fines. 

 

 

Leaving your tax return to the last minute can be a recipe for stress. Scrambling to find receipts, invoices, and financial records under pressure can lead to mistakes or overlooked information. Starting early allows you to take your time, review your financial situation carefully, and ensure accuracy. 

 

 

Filing your tax return early gives you clarity on what you owe. You’ll have time to budget and make the necessary arrangements, avoiding any last-minute financial surprises. For those who are due a tax refund, filing early means you’ll get your money back sooner rather than later. 

 

 

The earlier you start, the more time you (or your accountant!) have to explore ways to minimise your tax liability. Whether it’s claiming allowable expenses, making pension contributions, or reviewing gift aid donations, careful planning can save you money. Rushing at the last minute may mean you overlook valuable tax relief opportunities. 

 

 

January is often a busy month as we shake off the holiday season and dive into the new year. Filing your tax return early means you can focus on your goals for 2025 without the looming pressure of paperwork hanging over you. 

 

 

 

 

 

If you’re reading this and still haven’t tackled your self-assessment tax return, don’t panic. At Bidwell Accountancy Ltd., we specialise in making the process as seamless as possible for individuals, self-employed professionals, and small business owners alike. 

 

Here’s how we can help: 

 

Expert Guidance: Our team will walk you through the entire process, ensuring your tax return is accurate and submitted on time. 

 

Time-Saving Support: Leave the paperwork to us so you can focus on what matters most to you. 

 

Tailored Advice: We’ll help you uncover potential tax savings and ensure you’re not paying a penny more than necessary. 

 

 

Don’t wait until the last minute to get your self-assessment tax return sorted. Contact Bidwell Accountancy today, and let us take the stress out of tax season. Together, we’ll make sure you meet the 31st January deadline with confidence. 

 

Call us now or visit our website to schedule your consultation. Your future self will thank you! 

 

📧 Email us at info@bidwellaccountancy.com 

📞 Call us on (01908) 380391