There are advantages in filing your tax return as soon as practicable and 2021/22 tax returns can be filed now with HMRC. It is possible that not all the information might be to hand yet – e.g., P11D benefits forms might not have been issued by your employer, but much of the information should be available to you.
Advantages of filing sooner rather than later include:
• Quantifying the 2021/22 tax liability – this means the tax liability payable in January 2023 is known and can be budgeted.
• It may also mean that the July 2022 tax payment on account may be able to be reduced or even eliminated completely.
• One less item to worry about later in the year (and that is an advantage for us too!)
Please let us have your tax return information as soon as possible.
Contact us today to discuss this in more detail.
