We are ALL ABOUT those people who have their tax return done and dusted long before April comes to a close. (If you’re not one of those people yet, we still love you, don’t worry ;))
Filing the tax return is one thing .. but what about paying it?
You could be forgiven for thinking that you should get it paid off ASAP too and just pack the whole thing away neatly for another year.
But, isn’t it kind of annoying enough that you have to pay the tax, let alone the fact that paying it early could be robbing you of even more?!
What?! They’re robbing me of more? How?! I had no idea about this?!
Okay, so we may have been a little over-dramatic.. you’re not being robbed of more money exactly, but you are missing out on potentially 9 months’ worth of interest or other income that this tax amount could be generating for you!
Keeping this money in a Savings Account, an ISA or even investing in Premium Bonds (you could win £1million!!) will ensure that you’re stretching your money as far as you can for as long as you can.
Please don’t forget to set yourself a reminder mid-January (and mid-July if applicable) to get the money out and pay the tax over though, otherwise it will totally defeat the point!
Of course, a good accountant should be sending you deadline & payment reminders too (clue: we do ;))
To ensure you never miss a deadline again, fill in our Quick Questionnaire to enquire about working with us!