The 2024/25 tax year is officially over, and if you’re one of the millions who needs to complete a Self Assessment tax return, you can now get started.
The deadline to file online might not be until 31 January 2026, but there are some real benefits to getting it done sooner rather than later. From cash flow clarity to tax planning opportunities, early filing puts you firmly in control.
Here are ten compelling reasons to file your return early this year.
- Tick It Off the To-Do List
Let’s face it—no one enjoys having a tax return hanging over them. Filing early gives you that satisfying sense of completion and frees up headspace for more important things.
- Know Your Tax Bill in Advance
As soon as your return is filed, you’ll know exactly how much tax you owe for 2024/25. That means you’ve got months to budget for your 31 January 2026 payment or arrange to pay in instalments if needed.
- Spread the Cost Through Your Tax Code
If you’re a PAYE taxpayer and owe less than £3,000, filing by 30 December 2025 gives you the option to have the tax collected through your 2026/27 tax code. It’s like an interest-free payment plan.
- Get Your Refund Sooner
Overpaid tax? The sooner you submit your return, the sooner you’ll get your money back.
- Review Your July Payment on Account
Your second payment on account for 2024/25 is due by 31 July 2025. If you already know your full tax bill, you can check whether those payments are too high and reduce them to avoid overpaying.
- Know If You’re Caught by MTD for ITSA
From April 2026, Making Tax Digital for Income Tax (MTD for ITSA) applies to landlords and self-employed people earning £50,000 or more from property or trading income. That threshold is based on your 2024/25 figures, so filing early helps you find out if you’ll be affected and gives you more time to prepare.
- Make the Most of Transitional Profit Rules
If you’re self-employed and had transitional profits in 2023/24, you’ll usually spread these across five years. But once your 2024/25 return is done, you’ll know your total income and tax rate—which means you can decide whether to bring more of those profits into this year to reduce your overall tax bill.
- Need Proof of Income? Done.
A completed tax return provides official proof of income—something that’s often needed when applying for a mortgage, loan, or financial support.
- Plan Smarter for the Year Ahead
Filing your return gives you a full picture of your finances. That means you can review your tax affairs and make informed decisions to reduce next year’s tax bill.
- Keep Your Accountant Happy
January is peak chaos for accountants. Sending your tax information in early earns you serious brownie points and ensures your return gets the attention it deserves, well before the rush.
Ready to File Your 2024/25 Tax Return?
Filing early gives you clarity, flexibility, and peace of mind. Whether you’re employed, self-employed, a landlord or a business owner, staying ahead of the game is always a good move.
If you’d like help getting your tax return submitted early—or want to explore ways to save tax in the process—get in touch with the team at Jon Davies Accountants. We’re here to make it easy.
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Any questions?
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