As of 6 April 2025, the new UK tax year 2025/2026 has officially begun. While the Self Assessment filing deadline may seem far away – 31 January 2026 – there are significant advantages to preparing and submitting your return well in advance. At Lucas Prestige Accountants, we encourage our clients to be proactive, not reactive, when it comes to their finances.
Why file your tax return early?
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Avoid the January rush
January is the busiest time of year for accountants and HMRC systems alike. Filing your return early means you avoid the stress, delays, and potential errors that often arise closer to the deadline. -
Plan your tax payments
Filing early doesn’t mean you have to pay your bill right away – but it does mean you’ll know exactly how much you owe. This allows for better budgeting and planning, especially if your liability is higher than expected. -
Claim refunds sooner
If you’re due a tax refund, filing early means you’ll receive your repayment much quicker. There’s no need to wait until January if HMRC owes you money. -
Access financial support
Applying for a mortgage, loan, or other financial product often requires proof of income – such as your SA302 tax calculation. Having your return filed early ensures you’ll have these documents ready when needed. -
Reduce the risk of penalties
Leaving things until the last minute increases the likelihood of missing the deadline, which can result in automatic penalties and interest charges. Early submission keeps you compliant and in control.
Get a head start with Lucas Prestige Accountants
We’re here to support sole traders, limited companies, landlords, and partnerships with tailored tax advice and professional Self Assessment services. Whether you’re new to self-employment or a seasoned business owner, our expert team ensures that your tax affairs are in order, accurate, and submitted on time.
Don’t leave it until the last minute. Contact Lucas Prestige Accountants today to make this tax year your most efficient yet.