With only a few weeks to go until the deadline for the Self-Assessment Tax Return, we’ve been asked by a number of clients how they can get better organised and prepared in advance.
So here are our top tips to help you get organised early and cross this dreaded task off your to-do list.
Start Early
Start preparing for your Tax Return early to allow yourself plenty of time. There’s nothing worse than being up against a deadline, so don’t leave it until the very last minute to begin your preparation.
Little and Often
Throughout the year, set aside time each week or month to organise your paperwork. Use calendar alerts to remind you to take an hour out of your day to sort through the relevant documents needed to file your Tax Return.
By doing this regularly, you’ll avoid losing information or building up a huge pile of paperwork that needs sorting 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 folders, spreadsheets or an app, use whatever you find easiest.
When you’re out and about running errands, take a document wallet with you so you can place any relevant receipts straight inside. This will save you scrambling to find them later.
Don’t Stress!
Filing your Tax Return can feel overwhelming, but the key is to get organised using the simple steps above.
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 on the GOV website here: https://www.gov.uk/self-assessment-tax-returns
If you find yourself needing help with organisation this year, we can help. Contact us today for more information.
E: makeithappen@mbsmih.com
T: 01903 688789