DBN Member Guest Blog
We are officially into mid-November, which means the countdown to Christmas is well underway – and so is the countdown to the Self Assessment deadline.
While 31 January 2027 might still feel like a distant date on the calendar, leaving your 2025/26 tax return until the new year rarely ends well. At Westwood Accountancy, we always encourage our clients to get everything wrapped up before the festive break. That way, when you close your laptop for Christmas, you can genuinely switch off without a pile of receipts hanging over your head.
What You Need to Know Right Now
With around 12 million people expected to file a Self Assessment return for the 2025/26 tax year, HMRC has recently been reminding taxpayers to beat the January rush. A few key dates and details to keep on your radar:
The main online deadline is 31 January 2027: Both your online tax return and any tax owed must reach HMRC by 11:59pm on this date.
Want to pay through your PAYE tax code? If you are eligible and want HMRC to collect your tax bill through your salary or pension rather than paying a lump sum, you need to submit your online return earlier – by 30 December 2026.
Filing early does not mean paying early: Submitting your return in November or early December doesn't change the 31 January payment deadline. It simply gives you clarity on what you owe so you can budget properly over the festive period – or get a refund sooner if you have overpaid.
Watch out for Payments on Account: If you make payments on account, your first instalment for 2026/27 is also due on 31 January alongside any balancing payment for 2025/26. Knowing that total figure now avoids a nasty January cash-flow surprise.
Cryptoassets and side income: HMRC is actively reminding taxpayers that gains from selling cryptoassets above the £3,000 tax-free allowance must be declared on your 2025/26 return, alongside any self-employed income over £1,000, property rental income, or untaxed savings and dividends.
Five Practical Ways to Get Ahead This Month
Gather your paperwork in one place first Before looking at a single form, pull together your P60 or P45, bank interest statements, dividend vouchers, property income records, and self-employed invoices and expenses. Having everything in one folder makes the actual calculation far quicker.
Don't forget your tax reliefs Dig out records of any Gift Aid charity donations or personal pension contributions you made between 6 April 2025 and 5 April 2026. These are easy to overlook in a last-minute rush, yet they can directly reduce your tax bill.
Check your login details now If you are filing yourself, make sure you have your Unique Taxpayer Reference (UTR) to hand and can log into your Government Gateway account. Waiting for password resets or activation codes in late January adds unnecessary stress.
Tackle it in short bursts You do not have to do everything in one sitting. Block out 30 minutes this week to get your income figures together, and another 30 minutes next week for your expenses.
Hand it over to your accountant early Accountancy practices get noticeably busier as January approaches. Sending your records over in November means your accountant has plenty of time to review your figures properly, spot potential tax savings, and answer any questions without time pressure.
Don't Leave Yourself in a January Pickle
Tax returns rarely get easier by waiting. Getting yours ticked off over the next few weeks means you can enjoy your Christmas festivities knowing your finances are in order and your January bill is already accounted for.
If you would like a hand getting your 2025/26 tax return sorted – or just want to talk through your figures before the festive season kicks in – get in touch with Westwood Accountancy today. Let's have a chat now and save you getting in a last-minute pickle in January.
Sharron
E: info@westwoodaccountancy.com
T: 07813 012 466
