28 Jan Self-Assessment Deadline: Don't Forget to Pay by 31st January!
Deep breath. We know January can feel like a bit of a pressure cooker when you're self-employed or running your own business. Between getting back into the swing of things after the festive period and staring down the barrel of the Self-Assessment deadline, it's easy to feel overwhelmed.
But here's the thing: you've got this. And if you haven't quite got this yet, we're here to help you across the finish line.
The 31st January 2026 deadline is fast approaching, that's just days away. Whether you're a sole trader, freelancer, or director with additional income to declare, this is your friendly nudge to get everything sorted. Let's break down what you need to know and, more importantly, what you need to do.
What Exactly Is Due on 31st January?
Here's where people sometimes get caught out. The 31st January deadline isn't just about submitting your tax return. It's a double whammy:
- Your Self-Assessment tax return for the 2024-2025 tax year (covering income from 6th April 2024 to 5th April 2025) must be filed online by 11:59pm on 31st January 2026.
- Any tax you owe must also be paid by the same deadline.
That's right, filing and paying go hand in hand. So even if you've submitted your return weeks ago (gold star for you!), make sure you've actually paid the bill too.
If you were hoping to have your tax collected through your wages via PAYE, that ship has unfortunately sailed. You needed to submit your return by 30th December 2025 for that option, and your bill needed to be under £3,000.
What Happens If You Miss the Deadline?
Look, we're not here to scare you. But it's worth knowing what's at stake so you can avoid any nasty surprises.
Miss the 31st January deadline and HMRC will hit you with an automatic £100 penalty. It doesn't matter if you only owe a few quid or nothing at all, the fine still applies.
And if you owe tax and don't pay on time? The penalties stack up:
- 5% of unpaid tax charged 30 days after the deadline
- Another 5% at 6 months
- Another 5% at 12 months
- Plus interest accumulating on everything you owe
It can spiral quickly. So if there's one thing to prioritise this week, it's getting your Self-Assessment sorted.
That said, HMRC does consider "reasonable excuses" in some circumstances, things like serious illness, bereavement, or technical issues. But "I forgot" or "I was busy" won't cut it, unfortunately.
Quick Ways to Pay Your Tax Bill
Right, let's get practical. You've filed your return (or you're about to), and now you need to pay. Here are your options:
The quickest method: HMRC App
HMRC's app is genuinely the fastest way to pay. You can approve a payment directly from your bank account, and it's usually processed the same day. If you haven't used it before, it's worth downloading, especially if you're cutting it fine.
Online banking
You can pay directly through your bank's online or mobile banking service. You'll need your 11-character Unique Taxpayer Reference (UTR) as the payment reference. Payments usually reach HMRC within one working day, so if you're paying on the 30th or 31st, this should still be fine, but don't leave it until midnight!
Direct Debit
If you've set up a Direct Debit with HMRC before, you can use this to pay. Just be aware that it can take up to five working days to process, so this isn't ideal if you're reading this on the 28th January or later.
Other options
You can also pay by debit card online, at your bank, or even by cheque (though cheques take longer to clear). Credit card payments are no longer accepted by HMRC directly, but some people use third-party services, just watch out for fees.
Top tip: Whatever method you choose, make sure you use the correct UTR reference. Payments without the right reference can get lost in the system, and you really don't want that headache.
What If You Can't Afford to Pay?
This is the bit nobody likes talking about, but it's important. If you're looking at your tax bill and feeling your stomach drop, you're not alone. Cash flow can be tight in January, especially for freelancers and sole traders.
Here's the good news: HMRC would rather work with you than chase you. If you genuinely can't pay your full bill by 31st January, you have options.
Set up a Time to Pay arrangement
HMRC offers payment plans for people who are struggling. If you owe less than £30,000 and your return is already filed, you can often set this up online without even speaking to anyone. You'll be able to spread your payments over up to 12 months.
If you owe more than £30,000, or your situation is more complicated, you'll need to call HMRC directly to discuss your options. Yes, the hold times can be brutal in January, but it's worth persevering.
Don't just ignore it
The worst thing you can do is bury your head in the sand. HMRC's penalties and interest will keep adding up, and they have a long memory. Even if you can only pay part of what you owe, that's better than nothing: and setting up a formal arrangement shows good faith.
Talk to us
If you're feeling overwhelmed, get in touch with our team. We've helped countless clients navigate tricky situations with HMRC. Sometimes just having someone in your corner makes all the difference.
How to Avoid This Stress Next Year
Once you've cleared this hurdle, let's make sure next January feels a bit less chaotic. Here are some simple habits that can transform your tax returns preparation:
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Keep records as you go. Whether you use accounting software, a spreadsheet, or even a good old-fashioned folder, staying on top of your income and expenses throughout the year makes January infinitely easier.
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Set money aside regularly. A good rule of thumb is to put aside 25-30% of your profits for tax. Pop it in a separate savings account so it's there when you need it.
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Don't wait until January. You can file your Self-Assessment as early as 6th April each year. Getting it done in the summer means no deadline panic: and you'll know exactly what you owe with plenty of time to save.
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Work with an accountant. Having a dedicated sole trader accountant or accountant for freelancers means you're not figuring this out alone. We handle the number-crunching, chase you for documents (gently!), and make sure everything is filed correctly and on time.
How Harrison's Accountancy Can Help
Tax season doesn't have to be stressful. At Harrison's Accountancy, we specialise in helping sole traders, freelancers, and small business owners take the headache out of Self-Assessment.
Our Self-Assessment service covers everything from gathering your figures to filing your return and advising on legitimate ways to reduce your tax bill. We keep things simple, explain everything in plain English, and actually answer our phones.
Whether you need last-minute help this week or you want to get properly set up for next year, we're here for you. No judgement, no jargon: just friendly, practical support from a team that genuinely cares about helping you succeed.
The Clock Is Ticking: But You've Got This
The 31st January 2026 deadline is just around the corner. If you haven't filed yet, now is the time. If you've filed but haven't paid, get that sorted today. And if you're struggling, reach out: either to HMRC or to us.
Tax doesn't have to be terrifying. With the right support and a bit of organisation, you can breeze through Self-Assessment and get back to focusing on what you do best: running your business.
Need a hand? Drop us a message and let's chat. We're always happy to help.
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