Self Assessment January 2026- Struggling to pay your Self Assessment tax bill?

Tax due under Self Assessment for the 2024/25 tax year must be paid in full by 31 January 2026. If you need to make a payment on account of your 2025/26 tax bill, the first payment on account must also be made by 31 January 2026.

If you are struggling to pay your bill, you may be able to set up a Time to Pay arrangement to pay what you owe in instalments. While you will still be charged interest, you will not trigger late payment penalties.

It should be noted that HMRC charge interest at the rate of 4% above the base rate. Their current rate is 8%. When funding tax payments, this should be taken into account.