According to HM Income and Customs (HMRC), nearly 300,000 people filed self-assessment tax returns in the first week of the new tax year, the highest number ever.
These figures show that as more taxpayers choose to submit financial liability early, 299,419 returns were filed before April 6-12. The figure is 28,503 more than the same period five years ago, when 270,916 people filed in the first week of the 2020 tax year.
Despite one day falling on a Sunday this year, more than 57,800 people submitted their returns on April 6, indicating an increasing awareness of the benefits of early submissions. HMRC said early tax bills submitted to taxpayers with more time to budget, avoid fines and even get refunds faster if applicable.
Pre-submission has practical advantages, especially for self-employed workers and small business owners. Jade Milbourne, who runs the dog grooming salon, said early filing has become a key part of her annual routine.
“Submitting early means I have enough time to pay my tax bill,” she said. “I set aside money every month and it puts pressure on my flexibility throughout the process.”
HMRC is eager to encourage more taxpayers to follow suit. Myrtle Lloyd, HMRC’s Director-General for Customer Service, said early applications provide peace of mind and help people focus on their business or personal lives without the pressure of an imminent tax deadline.
“Filing a self-assessment early means you can spend more time growing your business and doing what you love without having to worry about tax returns,” she said.
The tax authority has updated its guidance on early filing and payment options on gov.uk, which includes a budget payment plan feature that allows customers to pay weekly or monthly installments via direct debit. For those owed money, a refund can be issued immediately after the return is processed and taxpayers can check their status through the HMRC app.
Who needs to submit?
HMRC also reminds taxpayers to check whether they need to submit a self-assessment return this year. If the individual must submit:
• New self-employed, earning more than £1,000
•Lease one or more properties
• Earn more than £2500 untaxed income
• Obtain child benefits and earn over £60,000
• Savings or dividend income exceeds £10,000
•Capital gains tax is required
• Partnership with business
gov.uk can provide a complete list of standard and inspector tools.
As early documents increase, HMRC also issued warnings about phishing and fraud attempts. Criminals often mimic HMRC via text, phone calls and emails, especially during taxation periods. HMRC urges taxpayers to never share their login credentials and verify any suspicious connections by searching online for “HMRC Phishing and Scams”.
With record numbers ahead of schedule to advance its tax affairs, HMRC hopes to build on momentum and reduce tax rush in January. The news is obvious: not only does early submission work, it can save you time, stress and money.
