Tax return deadline: Knowledgeable reveals her ten ideas for finishing self evaluation

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Your assist makes all of the distinction. Learn extra The HMRC tax return deadline is quick approaching.

Those that have to do a self evaluation have till January 31 to finish it - and pay the tax they owe.

Sarah Coles, head of private finance at Hargreaves Lansdown, affords some recommendation for individuals doing their tax returns in coming days.

She stated: “The UK is a nation of last-minute procrastinators, hoping to sneak an eleventh-hour tax return underneath the wire.

“Nearly half of people that have to do a self-assessment tax return by the tip of the month hadn’t acquired spherical to it by the beginning of 2026.

<img src="https://static.independent.co.uk/2025/12/12/10/11160338-7d5a84c1-ccac-4951-bf03-b928d17f71df.jpg" srcset="https://static.independent.co.uk/2025/12/12/10/11160338-7d5a84c1-ccac-4951-bf03-b928d17f71df.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/12/12/10/11160338-7d5a84c1-ccac-4951-bf03-b928d17f71df.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="You need to file your tax return by January 31. Here are some expert tips for what to do" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

That you must file your tax return by January 31. Listed here are some professional ideas for what to do (Alamy/PA) “And whereas there’s nothing improper with being motivated by a deadline, it raises the chance of one thing going awry.

“If that you must full one, and haven’t acquired spherical to it but, there are 10 last-minute checks to do – to ensure you’ve dodged the important thing tax return traps.”

1. Verify you may have entry to the system first

Coles stated: “Ensure you have your Distinctive Taxpayer Reference quantity and might entry the Authorities Gateway proper now.

“For those who haven’t registered for self-assessment, do it now, as a result of your UTR will take as much as 10 days to achieve you by submit. For those who’ve not registered for the Gateway but, it'll take as much as 10 days on your activation code to get to you. For those who’ve forgotten or misplaced any of these items, you'll be able to recuperate them.

2. Watch out for capital positive factors tax errors

The professional defined: “For those who offered belongings like shares after October 30 2024, the system received’t robotically calculate the correct quantity of capital positive factors tax it's a must to pay.

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“Annoyingly, that you must use the adjustment calculator on the Gov.UK web site to make adjustments to the calculation.”

3. Take into account the influence of frozen tax thresholds

“If a pay rise pushed you over the earnings tax threshold into paying increased or extra price tax, the additional tax in your earnings could have been taken by way of the PAYE system, however it might additionally imply it's a must to full a tax return,” Coles stated.

“It's possible you'll have to reclaim tax on pension contributions or charitable donations, or you might have to pay tax in your financial savings now your private financial savings allowance has dropped.

4. Take into account baby profit

“The high-income baby profit cost kicks in at £60,000,” the professional confirmed.

“In case your earnings (or your associate’s) has pushed over the edge since, and also you obtain baby profit, you will want to repay at the least a few of it by way of self-assessment.

“For those who tick the field, it'll calculate what you owe. For those who solely use this to pay the excessive curiosity baby profit cost, you'll be able to decide out and pay it by way of your tax code utilizing the brand new PAYE digital service.”

5. Don’t neglect crypto

“HMRC has been reminding people who positive factors from crypto must be declared for capital positive factors tax functions, if it took your complete capital positive factors over your annual allowance, you will want to pay tax,” Coles warned.

“For those who made a loss, you’ll additionally want to finish a tax return if you wish to offset it towards positive factors in future years.”

6. Bear in mind positive factors from buying and selling on websites like e-Bay and Vinted

Coles stated: “It will solely embrace issues you may have made or purchased and offered for a revenue – reasonably than gadgets from a normal clear-out.

“You even have an allowance of £1,000 if you happen to’re promoting for revenue, however after that, that you must declare this by finishing a tax return.

<img src="https://static.independent.co.uk/2025/12/19/8/22/iStock-1438395004.jpeg" srcset="https://static.independent.co.uk/2025/12/19/8/22/iStock-1438395004.jpeg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/12/19/8/22/iStock-1438395004.jpeg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="For you tax return, you need to consider profit made from selling clothes online if you made over £1,000" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

For you tax return, that you must think about revenue constructed from promoting garments on-line if you happen to remodeled £1,000 (Getty/iStock) “These websites solely began having to robotically disclose these positive factors to HMRC in 2024, however you might be liable for paying this tax.”

7. Don’t rush the pensions bit

The professional defined: “This can be a widespread space for errors to occur.

“Larger price taxpayers want to verify they declare increased price tax reduction if it isn’t executed robotically. For instance, on a private pension or SIPP that you must enter the gross worth of contributions.

“This isn’t only a complete of all the cash you paid in: it contains the tax reduction on prime. For instance, when you've got contributed £800, the gross quantity after tax reduction is added is £1,000.”

8. Verify you may have truly paid

“You’d be shocked how many individuals are so targeted on the admin that they neglect this bit,” stated Coles.

“For those who owe tax, that you must pay this no later than January 31 otherwise you’ll pay curiosity and a tremendous.”

9. What if I can’t pay?

“For those who can’t afford your invoice, see if you should use a time-to-pay association, spreading your tax invoice over the approaching months,” stated Coles.

“You need to be capable of do that on-line if you happen to owe £30,000 or much less, you’re inside 60 days of the cost deadline, and also you don’t have already got a cost plan with HMRC.

“It should solely be doable to set this up if HMRC thinks you'll be able to afford it, so it’s not an answer for everybody, and there may be curiosity to pay on excellent money, nevertheless it’s a greater resolution than merely lacking the cost and paying fines on prime of curiosity.

10. Verify whether or not it's a must to use Making Tax Digital for earnings tax from April 6 this yr

“Sole merchants and landlords with a turnover of greater than £50,000 might want to use it, so that you’ll want to enroll as quickly as doable,” she stated. “Getting began offers you time to familiarize yourself with the software program it's a must to use, and perceive the brand new service. If the change begins to make the method too time-consuming, it offers you an opportunity to search out an accountant to assist too.

“Whereas, you’re there, think about what your tax return has revealed about your funds: For those who spent ages digging out particulars of curiosity funds, dividends or earnings on share gross sales, think about consolidating to simplify issues.

“Use your tax return like a guidelines: For those who ended up paying tax on financial savings or investments, search for methods to shelter them from tax, like ISA and pensions.