The deadline to complete your 2024/25 tax return is 31 January 2026 (31 October 2025 if you need to file a paper return).
There are many advantages to getting your tax return completed early:
1. The tax does not need to be paid until 31 January – no matter when you file the return
Some people mistakenly think that if they complete their tax return early then the tax will also be due early. This is not the case and the tax is due on the same date whether your tax return is submitted on the 6 April or the 31 January.
2. If you are due a refund you will receive it sooner
If you have overpaid tax in the year ended 5 April 2025 you will be due a refund from HMRC. The sooner your tax return is completed the sooner you will receive that refund.
3. If you need to apply for a mortgage or rental reference they will often want to see your latest tax return
Getting your tax return completed early will ensure that there are no delays in your application.
4. You have more time to save up for the tax bill
An unexpectedly large tax bill received just before it needs paying can be stressful. If your tax return is prepared early then you will have more time to save up the money.
5. If you have a payment on account due 31 July you might be able to reduce it
Payments on account are payments made in advance towards the next year’s tax liability. The payment due 31 July 2025 is based on your tax liability from the year ended 5 April 2024. If your tax liability is lower in 2024/25 than in 2023/24 then there may be scope to reduce the payment that is due in July 2025.
6. The earlier you prepare your tax return the less likely you are to make mistakes
You will also have plenty of time to request any missing information from banks, investment companies etc.
