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HMRC alert for the self-employed ahead of January deadline

Newsletter issue – January 2026

It's that time of year again! If you are required to submit a self-assessment tax return online, you must do so by January 31, declaring your income for the tax year ended April 5, 2025. You must also pay all the tax that you owe by that date.

HMRC has reached out to SA taxpayers to remind them that it allows them to spread their liabilities over monthly instalments, if their tax bill doesn't exceed £30,000. You do this by submitting your return first, then set up a payment plan online using HMRC's 'Time to Pay' service.

There have already been 18,000 payment plans set up this tax year, and HMRC says that it provides flexibility for people, allowing them to schedule payments according to their circumstances and avoid the stress of finding money to pay the whole bill at the end of January, when finances may be tight.

 

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