January can be a tough month for the self-employed. With tighter consumer spending, the looming Income tax Self Assessment deadline, and let’s not forget Blue Monday, adding to the post-holiday gloom, it’s no surprise that many are feeling the pressure.
According to HMRC, with less than a month remaining until the filing deadline, a staggering 5.4 million taxpayers have yet to submit their tax returns – adding to what is an already stressful start to the year. With 63%* finding tax returns stressful, and 55% admitting to procrastinating on filing their Self Assessment, there’s an unexpected ally that can help boost motivation, ease stress, and make tackling those January tasks more manageable: music.
Why Music is the Ultimate Motivator
Scientific studies reveal that music activates feel-good chemicals in the brain, transforming mundane tasks into more enjoyable experiences and improving performance. The right beats and melodies are important and can enhance concentration, alleviate stress, and boost determination—exactly what’s needed to tackle January’s challenges and nail that Self Assessment.
With 88.3% of small businesses apprehensive about making accounting errors**, the right music can help you stay focused and energised.
The Ultimate Self Assessment Playlist
Whether you’re filing your Self Assessment, hitting the treadmill, or organising your year ahead, these tracks will help motivate you to turn up the volume of January motivation:
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“Stop right now, thank you very much”
(Spice Girls – “Stop”)Pause for a moment and gather all your receipts, invoices, and financial documents before diving in. Organisation is key! For completing your Self Assessment online, you will need Income information, Receipts, Expenses, Invoices, Payslips, Bank statements, Rental income (for Landlords), and Transportation logs (if you have a company vehicle). -
“Hit me with your best shot”
(Pat Benatar – “Hit Me With Your Best Shot”)Maximise your tax deductions by claiming everything you’re entitled to. Double-check to make sure you don’t leave money on the table. A deductible expense is any cost you can legally deduct from your total profit, in order to reduce the amount of tax you pay, for example the hiring of accountants or stationary costs. -
“Oops!… I did it again”
(Britney Spears – “Oops!… I Did It Again”)
Learn from past filing mistakes. With 24%*** of people admitting to missing the deadline at least once, ensure you avoid penalties by submitting your self assessment well in advance. -
“Money, money, money”(ABBA – “Money, Money, Money”)Review your earnings thoroughly to ensure every penny of taxable income is declared. Also remember that interest and dividends received from ISA’s are free from tax so are not reported on your return, and are a good option to save going forward. You can invest up to £20,000 per tax year.
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“Take it easy”(Eagles – “Take It Easy”)
The key to stress-free tax returns is organisation. Utilising bookkeeping software can help to streamline your financial record-keeping so that you have everything you need to complete your Self Assessment tax return online. You can simplify the process using features such as income and expense tracking, automated invoicing, bill management and more, all within the QuickBooks app.
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“Don’t stop believin’”
(Journey – “Don’t Stop Believin’”)
Trust your preparation (or your accountant) to handle the task. 44% of people use a tax professional to prepare and file their return such as an accountant or bookkeeper. Confidence is key! -
“Everything’s Gonna Be Alright”(Bob Marley – “Three Little Birds”)Don’t hesitate to seek expert help or advice if you feel stuck. With 18% looking to hire an accountant or bookkeeper this year, the QuickBooks Pro Advisor network is a good place to start – source a suitable match to lend a valuable hand.
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“You can go your own way”(Fleetwood Mac – “Go Your Own Way”)The first step to liberation is to record money in and money out as you go. Use an app to snap receipts as you spend, so it’s easy to reconcile all your deductions when the time comes to file. You might be surprised how many expenses can be deducted. Whether you file solo or with the help of an accountant, find a method that works for you.
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“Final Countdown”
(Europe – “Final Countdown”)
Procrastination leads to panic. If you’re one of the 23% of sole traders that leave filing until January, start today to meet the deadline without last-minute stress. Did you know you can actually file any time after the financial year closes? Next time, why not get ahead and file in April—it’ll mean you know your tax liability well in advance of when it’s due.
Additionally, starting in April 2026, HMRC will introduce ‘Making Tax Digital,’ which will require sole traders with income above £50k to file their tax returns electronically, via software, on a quarterly basis. There is also a requirement to keep digital records. Make sure you’re set up and ahead of the game. From April 2027 those with income over £30k will be included.
10. “January February”
(Barbara Dickson – “January February).
If you do file early you don’t need to make the final payment until 31 January, so remember to make the payment. February will be too late!
For tangible tips on tackling your Self Assessment with ease, QuickBooks has you covered. Download our handy checklist https://quickbooks.intuit.com/uk/blog/first-time-self-assessment/ – designed especially for Self-Employed users.