January is not only a month for deadlines; it is also the ideal time to take control of your personal tax position and plan with confidence. For individuals required to complete Self Assessment, early planning can make a significant difference to both compliance and cash flow. Working with experienced Chartered Tax Advisers in Frimley ensures your tax affairs are structured correctly from the very start of the year.
At Maratax, we support clients with proactive advice, professional accounting services and clear guidance tailored to individual circumstances.
Why January Is Crucial for Personal Tax Planning
Many taxpayers focus on taxes only when deadlines approach. However, effective personal tax planning should take place throughout the year. January offers a valuable opportunity to:
- Review income and expenditure
- Assess changes in personal or financial circumstances
- Plan for Self Assessment liabilities
- Avoid last-minute pressure later in the year
Early planning allows more control and better decision-making.
Understanding Your Self Assessment Obligations
Self Assessment applies to a wide range of individuals, including:
- Sole traders and self-employed individuals
- Landlords receiving rental income
- Company directors
- Individuals with dividend or investment income
- Those with overseas income or capital gains
Accurate reporting is essential. A professional accountant can review your income sources and ensure your Self Assessment return is complete, accurate and compliant.
Reviewing Income and Record Keeping
Good accounting starts with clear and organised records. January is an ideal time to review:
- Employment income
- Self-employment profits
- Rental income
- Dividends and investments
- Any overseas income
Maintaining accurate records throughout the year simplifies Self Assessment and reduces the risk of errors or omissions.
Planning for Payments on Account
If you are required to make payments on account, January planning becomes even more critical. These advance payments towards your next tax bill can impact cash flow if not anticipated.
At Maratax, our Chartered Tax Advisers help clients understand whether payments on account apply and whether they can be adjusted legitimately in light of changing circumstances.
Avoiding Common Personal Tax Mistakes
Without professional advice, individuals often face issues such as:
- Underestimating tax liabilities
- Missing allowable expenses or reliefs
- Incorrect capital gains calculations
- Cashflow pressure caused by poor planning
Professional accounting support helps prevent these problems before they arise.
How Maratax Supports Personal Tax Planning Clients
As independent Chartered Tax Advisers and accountants in Frimley, Maratax provides:
- Personal tax planning advice
- Self Assessment preparation and submission
- Ongoing accounting support
- Clear communication and prompt responses
- Compliance support with HM Revenue & Customs
Our approach focuses on long-term relationships and giving clients clarity and confidence in their financial position.
Start 2026 with confidence. Contact Maratax today for expert personal tax planning and Self Assessment support in Frimley.
