Last year, 25,769 taxpayers submitted Self Assessment Tax Returns during the festive period, with many choosing to file online despite the holiday fun.
Emily Coltman emphasizes that with many small business owners feeling pressured by economic factors, avoiding penalties and fines is critical for financial stability.
Filing early is encouraged by HMRC as missing the 31st January deadline automatically incurs a £100 penalty and accruing interest on unpaid tax.
FreeAgent recommends taking the task in bite-size chunks and gathering all necessary paperwork before starting the Self Assessment process.
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