IF you haven’t sent your Tax Return to HM Revenue & Customs yet, you’ll need to be quick. Time is running out and it’s surprising how many people leave it so late: over 1 million forms were submitted late in 2008 (14,600 more than in 2007).

With a £100 penalty, taxpayers are set to gift the taxman an unnecessary £503 million this year reckons the professional advice website Unbiased.co.uk. That’s in fines generated by late returns, miscalculations and surcharges on unpaid tax.

I know it’s difficult getting hold of the Business Car Manager accountant, Tim, during January – the Tax Partnership is always flat-out with clients leaving it late, late, late…

So don’t delay. Visit www.hmrc.gov.uk/sa and do your 2008/09 Self Assessment Tax Return online by 31 January. If you need a little help, you can use our ‘Step by Step’ guide to Self Assessment online filing – there’s a bite-sized video, too – in our special tax helper. You’ll find a series of drop down menus in the big green box at the top of the Law & Tax page on this website.

Do it today. Get it out of the way. And don’t give the taxman more of your hard-earned cash than you need.

Do your Tax Return online by Sunday 31 January