• The January 31 deadline for UK self-assessment tax returns is fast approaching

• Many taxpayers are scrambling to complete their returns at the last minute

• Last-minute filers are urged to stay calm and organise necessary documents

• Common filing mistakes to avoid include incorrect income and missing expenses

• Using HMRC’s online system helps streamline the process and ensure accuracy

With the January 31 deadline for submitting your self-assessment tax return just hours away, many taxpayers in the UK are scrambling to get their finances in order.

If you’re among them, don’t panic. While filing last minute is far from ideal, you can still complete your tax return smoothly and avoid unnecessary stress or penalties.

It’s still possible to do it efficiently and accurately. Here are some practical tips to help you navigate the process efficiently.

Gather all necessary documents

Before you start, having everything to hand will save you time and frustration. Make sure you have:

• Your Unique Taxpayer Reference (UTR) number

• Your National Insurance (NI) number

• Your Government Gateway login details (reset your password if needed!)

• A record of all income, including P60/P45 forms (if employed) and P11D (if you received benefits from work)

• Invoices or bank statements showing self-employment income

• Records of any allowable expenses you can claim

• Details of any additional income (e.g., dividends, rental income, interest on savings)

• Any relevant tax reliefs or deductions you can claim

If you’re unsure about anything, HMRC’s website has useful guides, and their helpline (0300 200 3310) can provide assistance - but expect long wait times this close to the deadline.

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Use HMRC’s online filing system

If you haven’t already done so, register for HMRC’s online services and submit your return digitally.

The system guides you through the process and helps calculate your tax liability automatically. If you attempt to file a paper return now, it will be too late, as the paper deadline was in October.

Avoid common mistakes

Rushing through your tax return can lead to errors that may trigger penalties or an HMRC investigation. Take your time to review each section before submission. Common mistakes include:

• Entering incorrect income figures (double-check against your documents)

• Forgetting to claim allowable expenses

• Not declaring additional sources of income

• Submitting the return without making sure all sections are complete

Pay your tax bill on time

Once your tax return is submitted, you must pay any tax owed by January 31. Payment options include:

• Direct Debit (allow time for processing)

• Online banking (same-day or next-day payments)

• Debit/credit card payments (beware of fees for credit cards)

• The HMRC app

• If you cannot pay the full amount by the deadline, contact HMRC as soon as possible to arrange a ‘Time to Pay’ plan, which allows you to spread payments over a longer period.

Stay calm and manage stress

Filing taxes at the last minute can be stressful, but staying calm will help you complete the process more efficiently. Here are some ways to manage stress:

• Break it down: Set short, manageable tasks (e.g., “gather documents,” “log in to HMRC,” “check figures”) rather than tackling everything at once.

• Avoid distractions: Set aside a quiet period to focus solely on completing your return.

• Take breaks: If you feel overwhelmed, step away for a few minutes to clear your head.

• Have a backup plan: If you're worried about making a mistake, consider using HMRC’s self-assessment tool or contacting an accountant for last-minute advice.

Once your return is submitted, take a deep breath - you’ve made it through another tax season!

Learn for next year

Filing at the last minute can be stressful, so take steps to make next year easier:

• File earlier: The window for filing opens in April, so don’t leave it until January.

• Keep records updated: Maintain a spreadsheet or use accounting software to track income and expenses throughout the year.

• Set reminders: Mark key dates in your calendar to avoid a last-minute rush.

Have any last-minute filing tips or questions? Drop them in the comments section.