While the Income Tax filing deadline may seem ages away, it is always preferable to file your return as soon as possible and get your affairs in order.

We have outlined below four good reasons why you should file as soon as possible:

Secure refunds

You may be due a tax refund and therefore the earlier you file, the earlier you can receive your refund. Better to have the funds in your account than in Revenue’s!

Time to pay any Tax owing

If you are in a tax payment position its always better to know this early to allow you to make arrangements for the underpayment and to consider Direct Debits options for any preliminary tax for the current year.

Preparing your returns early does not mean that you have to pay the liability early, but it gives you a lot more time to plan and manage your affairs.

Less missed opportunities

Starting the process early will give you more time to gather all the required information . As you will not be under pressure to file to the deadline you will have more time to accumulate all relevant information and you will be less likely to miss expenses. This should result in a larger refund or a reduced tax bill.

Remove deadline stress

Leaving your Income Tax Returns until the final deadline results in a stressful situation for both the tax payer and the tax adviser. Tax deadline is an extremely busy period and leaving your return until the last minute may result in delays which can result in unnecessary stress for everyone involved.

If you would like to GKS to assist you with the completion of your Income Tax Return please contact us and we will be happy to assist you.