Why you should file your self-assessment tax return early

Following the shocking news stating the average domestic fuel bill could top £4,200 per year from January 2023, you may be worried how you’re going to afford to pay for this as well as your income tax bill due that is due 31 January 2023.

There’s only so much you can do as a business owner to encourage more business and therefore more cash inflow. But what you can do is learn how to understand and manage your cash flow effectively to prevent it from getting out of hand. And by keeping a close eye on it you can make informed decisions.

We would recommend you file your 2021/22 Self-Assessment Tax Return now in order to have a clear view of what will be due on 31 January to help you plan for these payments.

We can help you put together a cash-flow forecast to help you predict your cash position so you can plan your cash flow and adjust your finances where necessary.

Skip the steps of producing your own forecast and download our free 5-minute cash flow forecast below to help you plan for the challenging January ahead with the rising cost of living.