Prepare for your 2024/25 online tax return now 

The 6^th April 2025 is the start of the new tax year. While it might seem like a long way off, preparing for your 2024/25 online tax return now is one of the smartest financial moves you can make. By starting your tax preparations early, you’ll not only save valuable time and money, but also reduce stress when the deadline approaches. As an accountancy firm, we want to help you stay ahead of the game, making sure you’re fully prepared for the tax season while it’s just began. 

In the UK, the tax year runs from 6th April to 5th April of the following year. On 6th April 2025, we’ll officially start the 2025/2026 tax year. This means your financial activities from this date onward will be assessed for tax purposes. 

Whether you are an individual taxpayer, a self-employed freelancer, or a business owner, understanding the changes that come with a new tax year and being prepared is key to making the most of your tax situation. 

The online tax return deadline for the 2024/25 tax year is 31st January 2026.

Many people put off tax preparation until the last minute, but waiting until the deadline often results in missed opportunities and unnecessary stress. The earlier you start planning, the better positioned you’ll be to make strategic financial decisions that could reduce your tax burden. 

Here’s why you should begin now: 

Gathering and organising financial documents now will save you hours later. Start collecting receipts, bank statements, and records of income or expenses. This way, when it comes time to file your online tax return, you’ll be able to upload your information quickly and accurately. 

Tax planning ahead gives you time to ensure you’re taking advantage of every deduction and relief available to you. For example, if you’re self-employed, this is a good time to review your allowable expenses and ensure you’re deducting the correct costs. The more you plan, the more money you can save. Make the most of it, why not? 

The online tax return deadline of 31st January 2026 might feel far away, but the closer you get to the deadline, the busier HMRC’s systems will be. The earlier you file, the less likely you are to encounter delays or technical issues, making the whole process smoother and less stressful. 

Minimise your tax bill. By working with an accountant early on, you can review strategies like adjusting your salary, increasing your pension contributions, or investing in tax-efficient options. The more time you have to make these decisions, the better positioned you’ll be financially. 

The government regularly updates tax rates and allowances, and these changes can impact your financial situation. By reviewing the tax year ahead, you’ll be able to adjust your financial habits accordingly and take advantage of any changes that benefit you. Early preparation means you’ll be in a stronger position to make the most of these updates. 

At Future Cloud, we help our clients understand their taxes and stay on top of their finances. Whether you’re an individual or a business owner, we can guide you with your tax preparation and filing process, including: 

• Tax-saving advice and tips 

• Help with organising your financial records 

• Assistance in completing and filing your online tax return 

• Support in understanding and planning for any changes to tax laws 

It may feel early, but the sooner you start preparing for your 2026 online tax return, the easier and more beneficial the process will be. By staying organised, understanding the upcoming changes to tax laws, and seeking professional guidance, you can ensure that you’re fully prepared for tax season. 

Ready to get ahead? Contact us today to start planning your tax strategy and set yourself up for success in the 2025/2026 tax year. Don’t wait until the deadline, start now and enjoy peace of mind when it’s time to file. 

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