File Your Self Assessment Early and Avoid January Tax Panic

• January is full of panic for self-employed business owners
• Filing your 24/25 Self Assessment early gives you time, clarity and peace of mind 😊
• You’ll know if Payment on Account applies and avoid surprise bills
• If your income dropped, you might be due a refund, but only if your return is submitted early
• We’ll also check if Making Tax Digital applies to you and guide you step-by-step
• We’re closing the doors to new SA clients in early December, so this is your last chance to get sorted 🙌🏻

😬 January Tax Panic is Real, But You Don’t Have to Feel It

If you’re a sole trader, landlord or self-employed business owner, you’ve probably experienced that creeping dread that builds up in January.

The tax deadline is looming, and suddenly:

• Your paperwork’s not ready

• You owe more than expected

• There’s a Payment on Account you weren’t told about

• You’re not sure if you need to go digital

It’s a stressful mix. But guess what? You can completely avoid it this year ☺️

🧾 Why Filing Early is a Game Changer

When you file your Self Assessment return early, you:

• Know exactly what you owe (and why)

• Get time to budget for Payment on Account

• Avoid last-minute confusion or penalties

• Might even receive a refund if you’ve overpaid

• Can prepare properly for Making Tax Digital (MTD)

We’re already supporting clients with their 2024–25 returns, and it’s making a huge difference to how they feel about their tax. It helps them feel ahead this year, and also prepared already for next year. Such a sigh of relief, knowing this is now being looked after.

💸 What is Payment on Account?

Payment on Account is HMRC’s way of collecting advance tax for the next year.

It applies if:

• Your tax bill is over £1,000

• You don’t have most of your income taxed at source

You’ll be asked to make two extra payments towards your future tax bill… one in January, and another in July.

So, if your 24/25 bill is £2,000, you could owe £3,000 in January:

• £2,000 for the year just gone

• £1,000 in advance for the year ahead

With early filing, there are no nasty surprises. We’ll tell you exactly what’s due, and when.

💡 You Could Be Due a Refund

Here’s a bonus that many forget if your income drops in 25/26, you might get a refund on your Payment on Account.

But that only happens if you:

1. File early

2. Know your numbers

3. Have a team who checks everything carefully

That’s what we do at BarrettStacey Accounting. We combine solid bookkeeping with smart tax strategy to make sure you’re paying the right amount and not a penny more ☺️

📲 Don’t Forget About Making Tax Digital (MTD)

Making Tax Digital for Income Tax is coming in April 2026. If your self-employed income is over £50,000, you’ll need to:

• Keep digital records

• Submit quarterly updates

• Use approved accounting software

When we file your Self Assessment, we check if this applies to you and help you prepare.

Already using QuickBooks or Xero? Great. We’ll handle the updates.
Still on spreadsheets? No worries. We’ll guide you through the switch 😊

⏰ Doors Closing Soon

We’re committed to giving every client great service and full support. That’s why we’re only taking on new Self Assessment clients until early December.

If your 24/25 return still isn’t done, now’s the time to reach out.

There’s still time to:

• File early

• Avoid panic

• Plan for MTD

• Get clarity on Payment on Account

• Sleep better at night 🙌🏻

🤗 Why BarrettStacey Accounting?

We’re a female-led, Bristol-based accountancy practice, working remotely with brilliant clients across the UK. Our team are:

✔️ Friendly and approachable
✔️ Great at explaining things clearly
✔️ Here to answer your questions on WhatsApp (even the “silly” ones)
✔️ Experts in Self Assessment, bookkeeping, compliance and MTD
✔️ Organised, proactive and never judgemental

Once you’re in with us, you’re looked after properly.

💬 Final Word

This is your last nudge before things get chaotic in January.

Self Assessment doesn’t have to be stressful. When you work with a team that knows what they’re doing, keeps you updated and actually answers your questions, it becomes simple.

📞 Book a discovery call now: https://barrettstacey.co.uk/book-a-call/
📩 Or drop us a message: ask@barrettstacey.co.uk

Let’s get it done early, and done right 😊

Authored by Hayleigh Barrett. Director.

As founder of BarrettStacey Accounting, she leads a friendly, female-led team that focuses on clarity, communication and care, not just compliance.