Britons have been reminded about the benefits of submitting their Self Assessment tax return in good time. In a post on X over the weekend, HM Revenue and Customs (HMRC) wrote: “Ice cream in hand, tax return done. Don’t just take our word for it – watch our video to hear from some of our customers about the benefits of filing your #SelfAssessment tax return early.”
It added: “Give yourself the gift of peace of mind this summer. Get started today.” The video featured interviews with various people out enjoying the sun asking them whether they had submitted their return already. One person said they tend to procrastinate but are trying to do their latest one “a little bit earlier”. Another said they usually file in Autumn for the next January, while a third said they tend to do it in January, in the week of the online deadline.
Self Assessment is a system used by HMRC to collect Income Tax, the GOV.UK website explains.
Tax is normally automatically deducted from wages and pensions, though people and businesses with other income have to report it via a self assessment.
This is submitted after the end of the tax year (April 5) it applies to. You can file your Self Assessment tax return online if you are self-employed, or are not self-employed but you still send a tax return, for example because you get income from renting out a property.
Tax returns can be filed anytime on or after April 6 following the end of the tax year up until the deadline, which varies depending on whether you’re filing online or submitting a paper tax return.
HMRC must receive paper tax returns by 11.59pm on October 31 2026, and online tax returns by 11.59pm on January 31 2027.
Late filing penalties are imposed if you fail to do so.
Submitting early can have various benefits, including:
- getting refund sooner if you’re due one
- allowing you to budget better for the year ahead as you know what tax you owe
- giving you time to correct any mistakes ahead of the deadline
- having a processed tax return which can be used as proof of income for mortgages, loan applications, or benefit claims
- reducing the stress of a last minute scramble to gather all the necessary information
- reducing the risk of you being tricked by fraudsters looking to capitalise on last-week panic with bogus texts and emails
You can find out more on the Government’s website.
