6 good reasons for early tax return filing
18/12/09
Lewis Smith & Co. know that doing your tax return is not your favourite way of spending your time. After all it nearly always seems to end in you having to give money to HMRC!
However getting your return completed as early as possible (and for some of you this advice may be directed at how you cope with next year's return) does have some very strong benefits.
Here are 6 very good reasons for early filing.
| 6. Accountants get pretty busy at filing time. Lewis Smith & Co. has never let any of its clients down but not everybody in the profession may be as diligent as us. | |
| 5. If you file at the last minute or late then we can't help you plan next year's tax affairs properly. You might lose out on tax breaks. | |
| 4. Think of the stress of having to pull documents and numbers together at the last moment. Give yourself time to do the sorting out in comfort. | |
| 3. If you don't already know what your tax bill is going to be...are you sure that you will be able to pay it? | |
| 2. HMRC are currently accepting payment in instalments which would be pretty handy for your cash flow wouldn't it? But you need to start talking to them early. | |
| 1. You will be fined if your return isn't filed. The fine increases every 2 months until you do file. |
So don't delay. Make sure that you have interest certificates, bank statements and P60's to hand, and try and find as many of those expenses receipts as possible. Get that return done!
If you have any questions or queries about your tax return then email us at info@lewismith.com or call 01384 235549
Lewis Smith & Co. - Dudley accountants. Tax return experts.
