The Self Assessment deadline may still seem some way off, but preparing early can make the entire process considerably easier.

For the 2025/26 tax year, online Self Assessment tax returns must generally be submitted by 31 January 2027, with any tax due normally payable by the same date. Leaving everything until January can result in unnecessary pressure, particularly if information is missing or your accountant needs clarification.

At Cheeld Wheeler & Co, we recommend getting organised well ahead of the deadline.

Who May Need to Complete a Self Assessment Tax Return?

Self Assessment can apply in a wide range of circumstances. You may need to submit a return if, for example, you are self-employed, receive income from property, are a partner in a business partnership or receive other income that needs to be declared to HMRC.

Individual circumstances vary, so it is important to establish whether you need to file rather than simply assuming that you do not.

Our tax advice services can help you understand your responsibilities and prepare the information HMRC requires.

Start Gathering Your Records

One of the simplest ways to make Self Assessment easier is to keep all of the relevant records together throughout the year.

Depending on your circumstances, these could include:

  • Self-employment income and expenses
  • Employment income
  • Pension information
  • Property or rental income
  • Savings and investment income
  • Dividend information
  • Details of allowable business expenses
  • Relevant pension contributions
  • Capital gains information

Good record keeping can considerably reduce the amount of time required when preparing your return.

Make Sure Your Bookkeeping Is Up to Date

For business owners and sole traders, accurate bookkeeping provides the foundation for an accurate tax return.

If transactions have not been recorded regularly, several months of activity may have to be reconstructed at the end of the year. This can make errors and omissions more likely.

Our bookkeeping and VAT services can help businesses maintain accurate and organised financial records throughout the year.

Do Not Wait Until January to Consider Your Tax Bill

Completing your return earlier does not usually mean you have to pay your tax earlier than the relevant deadline.

It can, however, provide something extremely valuable: time.

Knowing your likely liability in advance gives you longer to plan your cash flow and avoid an unexpected bill arriving immediately before payment is due.

For business owners, regular management accounts and cash flow projections can also provide a clearer picture of the wider financial position of the business.

Check Whether Anything Has Changed

Your tax position can change considerably from one year to the next.

Perhaps you have started a business, begun letting a property, sold an asset, received additional income or changed the way you operate your company.

These changes can affect what needs to be reported and how your tax position should be handled.

Discussing changes with your accountant early gives you an opportunity to deal with them properly rather than discovering an issue close to the deadline.

Self Assessment Support in Surrey

Cheeld Wheeler & Co are Chartered Certified Accountants based in Redhill, providing accountancy and taxation services to individuals and businesses throughout Surrey and surrounding areas.

Whether you already complete Self Assessment each year or your circumstances have recently changed, professional support can help ensure your return is prepared accurately and submitted on time.

To discuss your Self Assessment requirements, contact Cheeld Wheeler & Co.