While many of us looked forward to a festive break filled with relaxation and cheer, a significant number of taxpayers chose this quiet period to get ahead by submitting their Self-Assessment tax returns.

According to HMRC, this past Christmas period saw more than 40,000 proactive taxpayers filing their returns – effectively giving themselves the gift of a stress-free January.

Festive filing: A new tradition?

According to HMRC, an impressive 23,731 individuals submitted their tax returns on Christmas Eve alone, with the peak time occurring just before noon.

While others were prepping for Santa’s arrival and cooking a turkey, these diligent filers were navigating HMRC’s online services.

Christmas Day and Boxing Day also saw thousands bypassing traditional festive activities to finalise their tax details, with 4409 and 11,932 filings respectively.

Why file early?

While many may love using the festive break to complete and submit their tax return, many of us would rather be putting our feet up to watch Wallace and Gromit.

However, beyond eliminating stress, the benefits of an early-bird approach are numerous. Submitting tax returns well ahead of the January 31st deadline not only avoids the last-minute rush but also significantly reduces the risk of errors that can occur when hurriedly trying to meet a deadline.

Moreover, early submission allows more time for any unforeseen issues to be resolved, ensuring that everything is in order long before the deadline pressure mounts.

Best of all, here at Cogent Accountants, we offer a substantial discount to clients who send in their Self-Assessment Tax Return Questionnaire to us early.

Myrtle Lloyd, HMRC’s Director General for Customer Services, commended those who have already submitted their returns, noting that they can now “rest easy knowing they’ve got it wrapped up for another year.”

Encouragement to start sooner

For those who are always rushing to submit just before the Self-Assessment deadline, now is the time to consider the advantages of early submission.

Remember, early preparation not only eases your workload but also ensures that you can focus on what truly matters as the new year begins — whether that’s growing your business or simply enjoying more quality time without the shadow of tax deadlines.

Take a cue from the festive filers – get a jump start on your taxes in 2025.