Well that’s it for another 12 months. Every accountancy firm helping clients with their tax returns is breathing a huge sigh of relief to have reached the end of January unscathed. It leaves us all asking the same question – why does everyone leave it until the last minute?

You’ve been invited to submit it for nearly ten months, but you choose to backload it all into the last few weeks before the deadline. It probably is part of the general malaise of last-minutism that seems to affect much of the population. It’s not just tax returns that are done just before they have to be submitted. Take journey planning for instance – do we really leave enough time to get comfortably to where we’re going? You can think of your own example of last-minutism, I’m sure.

Paying tax is hardly anyone’s favourite occupation, is it?!

But back to tax returns. It’s not just a question of having to file your return by 31st January. It’s also the payment date for any tax that’s due. Doesn’t it make more sense if you know well ahead of time how much you have to find? For some people finding the money isn’t easy. After all, paying tax is hardly anyone’s favourite occupation, is it?!

Some people will be due money back from HMRC because they’ve paid too much tax in the first place. If that’s you, why are you leaving the money in HMRC’s bank account for so long? It could be in yours by filing your return more promptly. HMRC doesn’t make you wait until 31st January for your refund – they repay it (generally) promptly when you ask them for it and provide your bank details. They can take forever to repay some monies, but not normally individual tax return overpayments.

4,400 people filed their tax return on Christmas Day in 2024

Still, those who left it until the last minute didn’t become part of HMRC’s favourite fun statistic of the number of people filing their return on Christmas Day. A mere 4,400 in 2024, about 8% lower than the previous year. Surely there are better things to be doing?

So, promise me two things – you won’t file your return on Christmas Day, and you won’t leave it until the last minute next time.