Five reasons to file your 2023-24 tax return early

You don't need to wait until January 2025 to file your Self Assessment tax return.

HM Revenue & Customs (HMRC) is encouraging their customers to complete their Self Assessment tax return as soon as they can. This will help you avoid any rush in January, you'll know what you owe HMRC and you can budget to make the payment by 31 January 2025.

As soon as the 2023-24 tax year ends, you can submit your tax return at a time that suits you. The end of the 2023-24 tax year was 5 April 2024, so you can now submit your Self Assessment tax return for the 2023-24 tax year.

5 reasons to file early

You have until midnight on Friday 31‌‌‌‌ ‌‌January 2025 to file your return and pay any tax you may owe, but there are many benefits to submitting your tax return early - you can:

1. Find out sooner if you’re due a refund and get it quicker too.
2. Pay in instalments to help with your budgeting.
3. Get help if you can’t pay your Self Assessment tax.
4. Avoid the pressure and stress of doing it at the last-minute.
5. Use your tax return as proof of income for a mortgage, remortgage, loan and any benefit claims.

Early filing does not mean early payment

Choosing to submit your tax return early does not mean you have to pay straight away. By filing your tax return early you will find how much tax you owe (if any). Your tax bill does not have to be paid in full until 31‌‌‌‌ ‌‌January 2025.

Self Assessment webinars

HMRC is hosting a number of live webinars throughout May to help you with various aspects of your Self Assessment tax return. See Self Assessment webinars.

Read further information and the help available to file your tax return early.

First published 9 May 2024