It may feel like January has only just passed and for some of you, it may feel like only a few months ago (or less) you were collating all your information to give to us for your last tax return so you don’t have anything to do for a while. But this should not be the case. The earlier you get your information to us for your tax return the more notice you will have of your January 2026 tax bill so no unwanted Christmas surprises.

Benefits of getting your information in early

• You have longer to prepare for your next January tax bill and payments on account.
• The information is easier to collate as it is fresh, so you’re not trying to remember expenses from over a year ago.
• If your profits are down, we can prepare and file your tax return before July, and you will have less to pay for your July payment on account.
• Similarly, if you have incorporated during the tax year, this can potentially also decrease your July payment.
• Avoid the rush of trying to gather all the needed records at the last minute.
• We may pick up things when doing your tax return that you could save money on going forward. So if we do your return early you can implement these changes early in the next financial year.

Start now!

You don’t need to wait until after the year-end to start collating your information. Start now! Almost 11 months of your information can already be collated so start pulling it together now and if you need a simple spreadsheet or a breakdown of all the expenses that can be claimed then just let us know and we can help with this.

If you collate your information now it can also result in big tax savings if you realise before the end of the year that your profits or income is over a certain threshold you still have time to react to this by making a pension contribution or if you are self-employed investing in some equipment before the year end.

Tax plans

Another reason to get your records in order now is that we will be reaching out to all of our clients to reassess your tax plans for the next financial year and in some cases look to implement something before the end of this year to reduce your tax bill. To do this properly we are going to need to know where you’re at so far this financial year.

So don’t wait, get on top of your finances and get your tax return done early this year. If you need any help with this then please get in touch.