For those who have already filed your self-assessment tax returns, and those who have yet to, please be reminded that 31st January 2026 is also the payment deadline for your 2024/25 tax bill and the first payment on account for 2025/26 (if applicable).
If you do not pay on time, then late payment interest at the Bank of England base rate plus 4% will become due immediately. You may also incur penalties at the rates below (on which interest will also be charged):
Tax Overdue – Penalty
- 30 days – 5% of tax overdue
- 6 months – further 5% of tax overdue
- 12 months – further 5% of tax overdue
💡 Time To Pay
If you are finding it difficult to pay your bill, it is important to contact HMRC before 31st January and set up a Time To Pay arrangement (if eligible). HMRC will work with you to agree an affordable monthly payment.
For more information on this, please see the HMRC website:
If you cannot pay your tax bill on time:
Overview – GOV.UK (https://www.gov.uk/difficulties-paying-hmrc)