24 Hours to Go: The 5 Self Assessment Questions Everyone Is Asking Right Now

With just one day left until the 31 January Self Assessment deadline, taxpayers and agents across the UK are racing against the clock. From concerns about late filing penalties to confusion over last-minute payments, the final 24 hours often bring a surge of urgent questions.

If you’re submitting a return or trying to avoid unnecessary penalties, knowing the correct answers now can make all the difference. Below, we break down the five most common Self Assessment questions asked in the final hours before the deadline — and what you need to know to stay compliant.

The 5 Most Urgent Questions Answered Before 31 January

1. What happens if I miss the 31 January filing deadline?

If your Self Assessment tax return is filed even one day late, HMRC will automatically issue a £100 late filing penalty, regardless of whether any tax is owed.

If the return remains outstanding:

• After 3 months: daily penalties of £10 per day (up to £900)

• After 6 months: further penalties may apply

• After 12 months: additional penalties based on the tax due

Even if you can’t pay your tax in full, it’s still crucial to file the return on time to avoid unnecessary penalties.

2. What if I can’t pay my tax bill by the deadline?

Failing to pay by 31 January won’t stop you from filing, and filing on time should always be the priority.

If payment is late:

• Interest will start accruing from 1 February

• A 5% late payment penalty may apply after 30 days

If you’re struggling to pay, you may be able to set up a Time to Pay arrangement with HMRC, either online or by contacting them directly. Acting early can help reduce penalties and interest.

3. Can I still submit my tax return on deadline day?

Yes — returns can be submitted right up until 11:59pm on 31 January.

However, HMRC’s systems often experience heavy traffic on deadline day, which can cause delays or technical issues. Submitting earlier in the day, where possible, reduces the risk of missing the deadline due to system timeouts or errors.

For agents, ensuring all client authorisations and submissions are confirmed before the final hours is especially important.

4. What payments are due on 31 January?

31 January is a key payment date. Depending on your circumstances, you may need to pay:

• The balancing payment for the previous tax year

• Your first payment on account for the current tax year

• Any outstanding tax from earlier periods

If your income has fallen, you may be able to apply to reduce payments on account, but this should be done carefully — reducing them too far can lead to future interest and penalties.

5. What should I do if I’ve made a mistake or forgotten information?

If you’ve already submitted your return and discover an error, don’t panic.

You can:

• Amend your return online within 12 months of the 31 January deadline

• Correct figures such as income, expenses, or reliefs

If you haven’t yet submitted and are missing information, it’s often better to file using best available estimates, then amend later, rather than miss the filing deadline altogether.

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