With only a few weeks to go now until the deadline for the Self-Assessment Tax Return we’ve been asked by a number of clients how they can be better organised and get prepared in advance. So here’s our top tips on how to get organised early, so you can cross off the dreaded task from your to-do list.
Start Early
Start preparing for your Tax Return early to allow yourself enough time. There’s nothing worse than being right on deadline for a task, so don’t leave it until the very last minute to start getting your preparation underway!
Little and Often
Throughout the year, set time aside each week or month, using calendar alerts to remind you to take that hour out of your day, to sort through the relevant documents needed to file your Tax Return. This way, you won’t lose information or build up an enormous amount of paperwork that you’ll have to spend hours trying to sort through at the end of the year – which can be very stressful.
Create a Filing System
Set up a filing system that works for you. Whether that’s using folders, spreadsheets or an app – use whatever you find easier. When you’re out and about running errands – take a document wallet with you so you can place any relevant receipts straight in there. This will save you scrambling to look for them at a later date!
Don’t Stress!
Filing your Tax Return can be an overwhelming experience. The key is to get organised using the simple steps above and you’ll be fine! Remember – you can always seek advice from a professional accountant if you’re unsure about anything, and we’re always here to help too!
All the information you need about completing your self-assessment Tax return can be found here on the GOV website:
https://www.gov.uk/self-assessment-tax-returns
If you find yourself needing help with organisation in 2018, we can help! Contact us today for more information.
E: makeithappen@mbsmih.com T: 01903 688789