Self Assessment January 2026 Deadline
- Irina Inayat
- Jan 7
- 3 min read
There Is Still Time to Get It Right
If Self Assessment is only just appearing on your radar, you are not alone.
More than 12 million people across the UK will need to submit a Self Assessment tax return for the 2024–25 tax year (6 April 2024 – 5 April 2025) by the 31.01.2026 deadline. Leaving things too late often leads to unnecessary stress, rushed decisions, and penalties that are avoidable.
At Penn Accounts, we help individuals and business owners take control of Self Assessment, even if you are starting later than planned.
Here is how to get back on track and file with confidence.
1. Check Whether You Need to File
You may need to complete a Self Assessment tax return if you:
Were self-employed as a sole trader and earned more than £1,000
Were a partner in a business partnership
Received rental income, dividends, or other untaxed income
Had to pay Capital gains tax when you sold something that had increased in value
Need to pay the High Income Child Benefit Charge, which is not chargeable via PAYE
If you are unsure, HMRC’s online checker can help, or our team can quickly confirm your position and advise on next steps.
2. Start Gathering the Key Information Now
Even if you have not kept everything neatly organised, now is the right time to pull things together.
Common documents include:
P60s or P45s from employment
Self-employed income and expense records
Bank interest and dividend statements
Rental income and allowable expenses
Pension contributions and Gift Aid donations
National Insurance details
We can help you identify what is essential and what can be reconstructed if anything is missing.
3. New to Self Assessment? Registration Matters
If this is your first Self Assessment, you must have registered with HMRC by 5 October 2025 to receive your Unique Taxpayer Reference (UTR) and access your online account. If you have missed this deadline, please contact us, and we will explore the options available to you.
4. Avoid Penalties and Interest
Missing the 31.01.2026 filing or payment deadline can result in:
An immediate late filing penalty
Daily fines after three months
Interest on unpaid tax
Filing earlier gives you clarity on what you owe and time to plan — rather than reacting under pressure.
5. Prepare for Payments on Account
If your tax bill exceeds £1,000, HMRC may request Payments on Account. These are payments in advance towards your next tax year.
Understanding this early helps prevent unexpected cash flow issues and allows for sensible financial planning.
6. Let Penn Accounts Handle It for You
Self Assessment does not need to be complicated. Our experienced accountants will:
Ensure you claim all available allowances and reliefs
Prepare and file your return accurately and on time
Provide a clear explanation of your tax position
Help you plan for future liabilities
Whether you are self-employed, a contractor, a landlord, or have multiple income streams, we make the process straightforward.
There is still time to complete all necessary tasks properly.
Contact Penn Accounts today and let us take the stress out of Self Assessment - so you can head into 2026 with clarity and peace of mind.
Call us: 0800 073 73 76
Email: hello@pennaccounts.co.uk
0207 183 6623
The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.
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