Get those tax returns in

Many people will be suffering from financial indigestion after the Christmas and New Year blow-out. And just to make things worse, the tax self-assessment deadline is looming.

A fine of £100 is payable if a tax return is received after January 31, with other possible penalties after that, so do all you can to get your form in on time. Nearly 900,000 people missed the deadline last year and walked into the £100 penalty regime. Some of these forms are still outstanding.

John Whiting, tax partner at PricewaterhouseCoopers, offers the following advice: "Don't prolong the pain of self-assessment. Fill out the form, work out what you owe and send it all in by January 31.

"Preparation is key, so get all your information together before you start. If you need help, ask for it."

He says it's important people remember that they must make a payment by January 31. "Without this, the interest will start to run on your eventual bill. If you are unsure of exactly what you owe, estimate. Don't let the fact you don't have a precise tax figure stop you from sending in your return."