Bryan HayHM Revenue and Customs (HMRC) has announced that almost 300,000 Self Assessment customers have already submitted their tax returns for the 2023 to 2024 tax year within the first week, well ahead of the January deadline. This includes about 70,000 filings on April 6, the first day returns were accepted.
Filing early allows taxpayers to ensure their information is accurate, manage budgets effectively, and avoid the stress of last-minute submissions. Those who file early can also benefit from earlier tax refunds and have the option to spread the cost of their tax bill by setting up a budget payment plan.
Myrtle Lloyd, HMRC’s director general for customer services, encouraged this proactive approach: “Filing your Self Assessment early means people can spend more time growing their business and doing the things they love, rather than worrying about their tax return. You too can join the thousands of customers who have already done their tax return for the 2023-24 tax year by searching ‘Self Assessment’ on GOV.UK and get started today.”
HMRC has updated its guidance on how to file early and manage tax bills effectively on GOV.UK. The organization also uses this opportunity to inform about the various conditions under which taxpayers are required to file a return, such as having self-employment income over £1,000 or untaxed income over £2,500.
Additionally, HMRC warns against scams, urging taxpayers to verify the authenticity of any communications by searching ‘HMRC phishing and scams’ on GOV.UK before sharing personal or financial information.
