It’s not about laziness. Far from it. Often, leaving a tax return to the last minute comes down to:
- Fear of the number – What if it’s more than you expect?
- Avoidance – Out of sight, out of mind, until of course the deadline screams at you.
- “I’ll deal with it later” mindset – One of the most common habits for business owners.
Why people delay
There’s a lot more going on behind the scenes than just procrastination:
- Fear of a big tax bill – Nobody likes surprises from HMRC.
- Not understanding what’s due – Confusion over allowances, deductions or payment dates.
- Cash flow worries – “What if I don’t have the money to pay?”
- Overwhelmed – The sheer volume of paperwork feels impossible.
- Bad past experiences – Mistakes, penalties or tricky conversations previously had with accountants or HMRC.
Delaying a tax return isn’t laziness, it’s usually anxiety disguised as “I’ll deal with it later.”
The real cost of delaying
Putting off your tax return comes with a hidden price:
- No time to plan – Decisions about savings, pension contributions or allowances get rushed.
- No control over payments – You’re reactive instead of being proactive.
- Stress hanging over you for months – That tax cloud looms large in your mind.
- Panic borrowing / using savings – Last-minute cash scrambling.
- Sleep-stealing money anxiety – Night after night worrying about a number you could have known months ago.
Here’s the reframing: the tax return isn’t the problem, not knowing your numbers is.
Imagine filing early
Picture this: you know your tax bill by April, before summer, before holidays and before your July payment on account hits.
What changes when you file early?
You know:
- Your actual tax bill
- Your July payment on account
You have time to:
- Save intentionally
- Adjust drawings
- Make pension contributions
- Use allowances properly
- Avoid nasty surprises
Why April is the sweet spot
- The tax year has just ended
- Your records are fresh
- You’re not in panic mode
- Cash flow decisions can be proactive, not reactive
Emotionally, filing early can feel like a weight lifted. You get:
- A confidence boost
- A feeling that you are an experienced and organised business owner
- A lighter, calmer summer
What you can do now to prep for filing early
Here’s a super-practical checklist to start getting ahead:
- Get bookkeeping up to date by 5th April
- Separate business & personal expenses
- Download bank statements
- Gather essential documents:
- P60s / P45s
- Dividend records
- Pension contributions
- Stop guessing, get clarity on your numbers
You don’t need to be perfect. You just need to start.
To conclude
Leaving tax returns to the last minute isn’t about laziness instead it’s fear and worry. Filing early gives you clarity, control and peace of mind. When you know your numbers, you can plan, save, and run your business with confidence, without that nagging tax cloud over your head.
What to get your tax return completed early? Why not give us a call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 20-minute call with Yarka – https://calendly.com/yarka-ssa/20min
