The 31 January deadline for submitting your Self Assessment tax return in the UK is fast approaching. Missing it can lead to penalties, so now is the time to get organised. Here are 10 things you should do to make sure you’re ready:

1. Gather Your Documents

Make a list of everything you’ll need:

• P60s and P45s

• Bank statements and dividend vouchers

• Records of rental income

• Receipts for business expenses or self-employed income

• Pension contributions and gift aid payments

  Having everything in one place saves time and reduces stress.

2. Check Your Details on HMRC Online

Log in to your HMRC account and check your personal details, including:

• Name and address

• National Insurance number

• Employment and income records

  Ensure everything is up to date to avoid processing delays.

  
  

3. Review Your Income

Make sure you have accounted for all sources of income:

• Employment, self-employment, or freelance work

• Property income

• Savings interest and dividends

• Foreign income

  Undeclared income could trigger HMRC queries or penalties.

  
  

4. Claim All Allowable Expenses and Reliefs

Maximise your tax efficiency by reviewing:

• Work-related expenses

• Professional fees and subscriptions

• Pension contributions

• Gift aid donations

  This ensures you don’t pay more tax than necessary.

  
  

5. Consider Your Payments on Account

If you’re self-employed, HMRC may expect payments on account for next year. Check whether:

• You need to make a first or second payment

• Your balance is correct

  Planning these payments can help manage cash flow.

  
  

6. Check Capital Gains and Other Gains

If you sold assets during the year, such as property or shares, ensure you:

• Calculate any capital gains

• Apply available allowances

• Report correctly on your tax return

  Failing to report gains can result in penalties.

  
  

7. Set Aside Time for Your Tax Return

Don’t leave it to the last minute. Set aside dedicated time to:

• Complete your return online or on paper

• Review figures for accuracy

• Submit well before the deadline to avoid last-minute stress

  
  

8. Consider Professional Help

If your tax affairs are complicated, hiring a Chartered Tax Adviser or accountant could save you time and ensure you:

• Claim all reliefs you’re entitled to

• Avoid mistakes that could trigger HMRC penalties

• Plan effectively for future tax years

  
  

9. Check Direct Debit or Payment Methods

Make sure HMRC has your correct payment details for any tax owed. Confirm:

• Bank account numbers for direct debit

• Card payment options

• Available funds to avoid failed payments and interest charges

  
  

10. Keep Records for at Least 5 Years

Once your return is submitted, retain all documents for at least 5 years from 31 January deadline. HMRC may request supporting evidence if they review your return.

Bottom line: Preparing early, keeping organised, and checking everything carefully will make the 31 January deadline much less stressful. If in doubt, contact us for simple, stress free, no jargon advice and assistance and we will help ensure you’re fully compliant and maximising your tax efficiency.