What to Do Now to Avoid a Last Minute Self Assessment Rush

We all know the scene. It’s January, your inbox is overflowing, your receipts are crumpled in a drawer, and that dreaded Self Assessment deadline is looming.

But it doesn’t have to be like that.

By starting early, you give yourself the gift of breathing space and possibly even a better tax outcome.

Whether you’re a sole trader, landlord, or director of a limited company, here’s what you can do right now to stay ahead of the game.

1. Gather Your Paperwork

Start pulling together everything you’ll need for your 2024 25 tax return:

• Income records (invoices, sales reports, rental statements)

• Business expenses and receipts

• Bank statements (business and personal if mixed use)

• Details of any grants, benefits, or support received

• Interest from savings or dividends

• P60 or PAYE details if you also had employment

Tip: If you’re not sure what counts as relevant, ask early. It’s much easier to check things now than in January.

2. Organise Your Expenses

Now is the time to go through those receipts and logs.

• Separate out allowable business expenses

• Check mileage records and home office claims

• Review subscriptions, tools, insurance, and anything you may have missed

• Make sure personal and business costs are clearly split

Little things get forgotten easily, especially when you’re rushing. Taking the time to log expenses now means you don’t miss out on deductions you’re entitled to.

3. Get Your Bookkeeping Up to Date

If your books are behind or not started at all, block out time in your diary to catch up.

This is the part many people avoid, but it’s also the part that causes the most January stress.

• Reconcile your accounts

• Record income and expenses

• Make sure everything ties up with your bank

You don’t need to do it all in one go. Just start. Even 15 minutes a day can make a difference.

4. Think About What’s Changed

This tax year might look different from last year. Did you…

• Start or close a business

• Sell an asset or receive any dividends

• Change your employment status

• Take on rental property income

• Start paying into a pension

Noting this now gives your accountant a heads up and helps avoid any surprises later on.

5. Ask for Help Early

The sooner you speak to your accountant (hi 👋), the more we can help.

We can advise on what to prepare, help you spot any gaps, and make sure you’re claiming everything you should be.

And let’s be honest. Our diaries fill up quickly in December and January.

Final Thought

Your Self Assessment might not be due until 31 January 2026, but getting ahead now can save you stress, late night admin, and even HMRC penalties.

And best of all? You’ll know where you stand and can plan for the months ahead with confidence.

If you’d like help pulling everything together or just want to chat about your next steps, get in touch.

We’re here to make tax time feel a little less taxing.

Emma

Barleyfields Accountancy