Self Assessment feeling overwhelming? A practical plan for Bury business owners

Self Assessment feels overwhelming? Start with one small step

If your tax return keeps slipping down the to-do list, you are not alone. HMRC’s latest Self Assessment reminder, published on 10 November, highlights a familiar problem: people often delay financial admin because they lack confidence or find it overwhelming.

For sole traders, landlords and other business owners in Bury and Greater Manchester who need to file, the key deadline is 31 January 2027. That is when your online Self Assessment return for the 2025 to 2026 tax year must be submitted and any tax due paid. Starting now gives you time to understand the figures rather than rushing through them in January.

What HMRC’s new survey tells us

An HMRC-commissioned survey of more than 5,200 people found that over 18% put off financial admin ahead of a deadline because they lack confidence. Nearly a quarter said they delayed it because it felt overwhelming. These findings cover survey respondents generally, not just small-business owners, but the message is relevant when you are juggling customers, invoices and day-to-day operations.

HMRC says around 12 million people are expected to file a return each year, yet around 5 million often leave it until January. The practical takeaway is not to complete everything in one sitting. It is to make a start while there is still time to ask questions.

A manageable first session

Set aside a short appointment with your records, just as you would with a customer. Begin with the information for 6 April 2025 to 5 April 2026, keeping it separate from your current-year bookkeeping.

A useful starting checklist is:

• Gather your sales records, business bank statements and expense receipts.
• Bring together details of other income, such as rent, employment or dividends, where relevant.
• If you are a construction subcontractor, collect your CIS deduction statements so deductions can be checked against your records.
• Note missing documents or anything you do not understand, ready to discuss with your accountant.

For a busy tradesperson working across Bury, Bolton or Manchester, identifying a missing statement now is much easier than discovering it days before the deadline. Do not guess an expense claim or assume every payment leaving your bank account is tax-deductible: ask for help where the treatment is unclear.

Filing early does not mean paying immediately

HMRC confirms that submitting your return now does not mean paying your bill straight away. Knowing the amount sooner gives you more time to set money aside and protect cash needed for wages, materials or other business commitments.

Check the full January payment, not just the tax relating to last year. HMRC’s payment guidance explains that 31 January can also include a first payment on account towards the following tax year, where applicable. Leave enough time for your chosen payment method to reach HMRC.

Use official help, and check pre-filled information

HMRC says more than half of its survey respondents turn to GOV.UK for help with tax. Official guidance, webinars and videos can help you work through unfamiliar questions. The HMRC app also lets you find your Unique Taxpayer Reference, view payment history and set payment reminders.

If you have joined Making Tax Digital for Income Tax, you still need to submit your 2025 to 2026 Self Assessment return in the usual way by 31 January 2027. Quarterly updates do not replace that return.

HMRC also says Child Benefit payment details are now pre-populated in online returns for customers paying the High Income Child Benefit Charge through Self Assessment. Check those details against your records rather than assuming pre-filled information needs no review.

Related reading

For more practical guidance, see our earlier Self Assessment deadline guide [blocked] and HMRC interest-rate update [blocked].

How GAAB can help

Go Accounting and Business helps self-employed people and small-business owners in Bury and across Greater Manchester organise their records, prepare accurate Self Assessment returns and understand upcoming tax payments. Whether you need help checking CIS deductions, sorting missing paperwork or planning your January cash flow, our Bury-based team can make the process clearer. Contact us at admin@gaab.co.uk or call 07778 977721 [blocked] to get started.