At this stage, the goal is to lay the groundwork so that the filing process in the coming weeks is smooth and stress-free.
Spending a bit of time now saves a lot of last-minute panic later.
1. Gather All Key Documents Collecting all relevant paperwork early is crucial. Missing documents are one of the biggest causes of last-minute stress. Things to gather include: -Employment income: P60s, P45s, and any P11D forms showing benefits or expenses. -Self-employment income & expenses: Invoices, receipts, bank statements, and a record of any allowable expenses. -Bank and investment statements: Interest from savings accounts, dividends, and other investment income. -Pension contributions: Both personal and workplace pension contributions can reduce your taxable income. -Rental income and expenses: Include rent received, maintenance costs, and any allowable deductions. -Foreign income: Any overseas earnings, dividends, or assets that need to be declared. -Grants and support payments: For example, SEISS grants received for self-employed individuals during COVID periods. -Capital gains information: If you sold assets, shares, or property (outside your main home), keep records of purchase and sale prices. Turpin Top Tip: Create a digital folder to scan and store all documents - it makes sharing with your accountant or tax software much easier. 2. Update and Organise Your Bookkeeping Your bookkeeping is the backbone of an accurate Self Assessment. At this stage, focus on tidying up and organising: -Reconcile accounts: Make sure every transaction on your bank statement matches your bookkeeping records. This prevents missing or duplicated entries. -Sort and upload receipts: Group receipts by category (travel, office costs, supplies, etc.) and upload them to your accounting software or cloud storage. -Separate personal vs business expenses: Mixing personal and business spending can create headaches and potential errors. Keep them clearly separated. -Mileage and home-office logs: If you claim business mileage or a portion of home expenses, make sure your records are up to date and accurate. Turpin Top Tip: Small weekly bookkeeping habits now save huge amounts of time in January, even 10-15 minutes a week makes a difference.
3. Check Your HMRC Access
Many people only discover login issues when the deadline is close.
Avoid this by checking now:
-Log in to your HMRC account to ensure your credentials work and there are no technical issues.
-Keep your UTR and National Insurance numbers handy , you’ll need these for filing.
-Update personal info such as address or contact details if they’ve changed.
Turpin Top Tip: Set up two-factor authentication if not already done. It’s an extra step but can prevent delays when submitting your return.
So why does this two-month preparation matter?
Doing this groundwork now gives you:
-Clarity: You’ll know exactly what’s missing and can act on it early.
-Reduced stress: No scrambling for receipts in the last week.
-Time for adjustments: If errors appear or additional documents are needed, you have time to correct them.
-Better financial planning: Knowing your income, expenses, and potential tax bill early helps with cash flow planning.
For further guidance check out GOV.UK for guidelines or alternativly book a consult through our contact us page.
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