The festive season is here! But for those who need to file a tax return, the looming deadline might feel less like Christmas cheer and more like tax-time stress. Whether you’re preparing early or rushing to meet the deadline, knowing the answers to common questions can ease the burden.
Let’s tackle the 12 most common tax return questions we get asked to help you relax and enjoy the holidays.

Q1: HMRC haven’t advised me that I need to do a tax return. Does this mean I don’t need to?
Not necessarily! It’s your responsibility to determine if you need to file a return. Common reasons include:
- You’re self-employed or in a business partnership
- You’re a company director receiving dividend income
- You earn income from property, savings, or investments above certain thresholds
- You earn over £150,000 annually
Use HMRC’s online checker tool to confirm.
Q2: How do I notify HMRC that I need to complete a return & request forms?
You can check how to register and complete the registration via the HMRC website: https://www.gov.uk/register-for-self-assessment.
There are 3 different registration options:
- Self-employed – for example a sole trader
- Other untaxed Income – for example you have income from a pension or a property including if you earn over £150,000 annually
- You’re a partner in a business partnership
Q3: What do I need in order to be able to prepare & file my tax return?
Your Unique Tax Reference (UTR) number is essential. If you don’t already have one, register with HMRC as soon as possible—it can take weeks to receive. Without it, you can’t file your return, and late filing penalties could apply.
Q4: How much will it cost for Inca to do my tax return for me?
This depends on the complexity of your affairs. Contact us for a bespoke quote tailored to your needs.
Q5: When do I have to submit my tax return to HMRC?
At the risk of spoiling Christmas, there are two deadlines you need to be aware of:
- 30th December: Your return must be filed by this date if you want any tax you owe to be deducted from your salary in instalments. This deadline will be of interest primarily to individuals who are employees receiving income from property, and who are also company directors.
- 31st January: This is the final date by which your completed return must be filed with HMRC. So, for the 2023-24 tax year, the deadline is 31st January 2025.
Q6: When will I have to pay my tax?
If you’re paying any tax due as a lump sum, payment needs to be made by 31st January (so 31st January 2025 for tax due on income earned in the tax year 2023-24).
Any later than this and you will become liable for interest and penalties.
Q7: Should I wait for HMRC to send me my tax bill?
No! HMRC may not calculate your bill in time if you file close to the deadline. Instead, calculate what’s owed and pay promptly. If Inca handles your tax return, we’ll confirm your bill for you.
Q8: What happens if I overpay?
If for any reason you find you have made an overpayment to HMRC, you can either:
- Request a refund
- Offset the overpayment against next year’s bill (useful if you make payments on account).
Q9: What are ‘payments on account’?
If you pay your tax in installments rather than through PAYE, and if the amount of tax you owe in a year exceeds £1,000, HMRC splits the following year’s estimated tax into two installments:
- First payment: 31st January
- Second payment: 31st July
Q10: Does paying on account mean I’m paying tax in advance?
Not really! Self-employed individuals still benefit from a cash flow advantage compared to PAYE employees, as they pay taxes months after earning the income.
Q11: I’m a company director, but I don’t earn money from my directorship – do I need to complete a tax return?
No, unless you receive dividend income as a shareholder of a Limited Company. Dividend income is not taxed at source therefore must be reported to HMRC.
Q12: What if I have historic tax returns outstanding?
- You can still file online for the previous tax year until 31st January.
- Older returns require paper submissions.
Penalties and interest apply to overdue returns, so act quickly. If you’re unsure, we can help you get back on track.

Need Help with Your Tax Return?
Don’t let your tax return ruin Christmas! If you need assistance or want us to handle your tax affairs, contact us today. Get organised, stay compliant, and enjoy a worry-free festive season!
Contact one of our advisors today for an initial discussion. Call us on 01235 868888 or email us at [email protected].
