As ever, it comes down to the psychology: tax is always seen as a negative, most of us just don’t like dealing with it, we put it off, we think we can’t do it – and then things can go wrong and get out of hand.

The key to changing our behaviour around tax is to start with some very simple tasks, see the positive results, stick with it and make it become a habit.

We’ve created 3 easy steps that will make a difference in how you do things tax-wise:

1. Automatically transfer tax to a separate Savings Account or Cash ISA and don’t touch it. Remember, it’s not yours, you are just the guardian of it for the government! Whether you choose to transfer on every remittance or on the same day every month, whichever percentage you choose, you’ll always have it available to pay.

2. Claim everything you’re allowed to on your Tax Return so you create a surplus. Research suggests the majority of us don’t claim any costs under £10. Maybe they seem too small to be bothered with – but it could lead to you overpaying hundreds of pounds of tax, so you need to claim it right! Put in a bit of time at Tax Return time, and reap the rewards.

3. Automatically transfer that surplus to a Stocks & Shares ISA. Don’t get confused by the jargon or put off by the tiny risks, just jump into some basic DIY investing, do your research and choose a strategy wisely. This might double the return you make on your bonus capital sum compared with just earning interest on it.

Once you’ve built this habit then you can set yourself some simple goals – and wonder why you ever made tax into such a stress-inducing monster!

And if you’re new to Self-Assessment, even better, because you’ll effectively have your first year plus 9 months till 31st January so 21 months in total to set aside and build up your capital sum.

#ownallyourfinances

Sign up for my 2-hour workshop at Portobello Business Centre! [https://www.pbc.co.uk/service-page/financial-big-picture?referral=service_list_widget]