The self assessment deadline of 31 January is one of the most important dates in the calendar for limited company directors, sole traders, and anyone with income outside of PAYE. Here's what you need to know.
Key deadlines
31 January 2026 is the deadline for filing your 2024/25 self assessment tax return online and paying any tax owed. It's also the deadline for your first payment on account for 2025/26 if applicable. Missing this date results in an automatic £100 penalty.
What you'll need
For limited company directors this typically includes your salary from the company, dividends received, and any other income such as rental income, interest, or freelance earnings outside the company.
Don't leave it to January
The earlier you get your information together, the smoother the process. Waiting until the last week of January means no room for errors or missing information.
Payments on account
If your tax bill is over £1,000, HMRC will require payments on account towards next year's liability. This catches a lot of people off guard — make sure you're budgeting for it.