April signifies the start of the new year (financial year obviously!), although we doubt this is news to any of you! (If you want to know why it’s April then have a looksie here). And what better way to start a new year than to tidy up last year?
Unsurprisingly, a lot of people don’t finalise their books from the previous year in April, with a large amount of people not getting around to their tax return until December & January, leaving them little to no time to prepare for the bill due 31st Jan – so why wait?
With so many people waiting until the last minute to file their returns, help may not always be available. So why not just do your return now? Getting it done early will mean it’s a weight off your mind, knowing what you’ll have to pay in January and gives you plenty of time to ensure you’ve got the money available, you won’t have to pay anything early just because you’ve put your return in early!
It also means that if there’s any questions raised that you stand more chance of remembering the answer as it won’t have been so long ago, if it’s about a transaction in April at the start of the FY and you wait until January it’s 21 months between them so the chances of remembering is slim!
Of course, we’re not expecting an influx of people wanting to get their tax return done early, but if we manage to convince one person to do it sooner rather than later then it was worth the time it’s taken to write this blog!