Why Summer Is the Perfect Time to Prepare Your Self Assessment
As the sun finally shows its face and we all start to enjoy the lighter evenings and warmer days, summer brings with it a sense of renewal and breathing space. While tax might be the last thing on your mind as you sit in a garden chair watching the kids play or plan your next holiday, it's actually the ideal season to tackle your self assessment tax return.
Here’s why getting ahead now can make your life a whole lot easier and how the team at Turpin Accounting Services can help you every step of the way.
1. Avoid the January Rush
Every year, thousands of people leave their self assessment until the very last minute, last year a staggering 732,498 people filed in January 31st itself. It’s stressful, risky, and usually comes at a time when your energy levels are already low from the post-Christmas slump. Preparing your return during summer means you’re avoiding the chaos and giving yourself a smoother, calmer path to the deadline. It’s a chance to act proactively rather than reactively and that can make all the difference.
2. Plan Your Cash Flow Better
Completing your self assessment early doesn’t mean you need to pay your tax bill immediately the deadline for payment will still remain January 31st. But knowing what you owe well in advance allows you to plan your cash flow with confidence. You can budget accordingly, set aside the necessary funds gradually, and avoid that dreaded feeling of a big tax bill dropping just as the credit card bills from December roll in.
3. Get Your Accountant’s Full Attention
Accountants, like everyone else, get busier as January approaches. In fact, the lead-up to the deadline is the busiest period of the year for most firms. Reaching out in summer means your accountant has more time to focus on your return, give you tailored advice, and help you spot any opportunities for tax savings or reliefs. You're more likely to get quality time, quicker turnaround when things are quieter and less likely to pay more for a quick turn around to submit before penalty occur.
4. Enjoy Peace of Mind for the Rest of the Year
There’s something very satisfying about ticking a big item off your to-do list early isn’t there? Once your return is submitted you can relax and enjoy the rest of the year without the tax return hanging over your head. Whether it's planning a holiday, getting the kids ready for school, or preparing for the festive season, your energy can be focused where it’s really needed not buried in paperwork or number-crunching.
5. Plenty of Time to Resolve Any Issues
Sometimes preparing your return isn’t straightforward. You might be waiting on income statements, chasing up missing expense receipts, or unsure how to handle a change in your income. Starting early gives you time to deal with any hiccups, ask questions, and avoid any risk of penalties. If you’re newly self-employed, juggling multiple income streams, or dealing with HMRC for the first time, that extra breathing space is especially valuable.
Let Turpin Accounting Help You Settle That Peace of Mind
At Turpin Accounting Services, we understand that life doesn’t stop just because tax season is looming. That’s why we encourage our clients to use the summer as a head start. Whether you’re a sole trader, a freelancer, a landlord, or someone with multiple income sources, we’ll help make your self assessment stress-free, accurate, and submitted in good time.
No complicated accounts jargon, no rushing, and no last-minute panic just clear advice, personal service, and year-round support.
So this summer, why not trade tax stress for peace of mind? Be the smug friend who has already done theirs.
Get in touch with the team today and let’s get your self assessment sorted while the sun’s still shining so you can enjoy more of it.
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