Self Assessment: How to Pay Your January Tax Payment


The tax return deadline is on 31 January, meaning that you have less than a week to finalise your tax affairs for the year ended 5 April 2016. It also means you have just a few days to settle your tax payment.

Tax deadline – 31 January 2017

The most pressing tax deadline for now is the main filing and payment deadline, of 31 January.

This date marks the final day for you to file your 15-16 self-assessment tax return, and settle your tax for that period. If applicable, you will also need to pay the first tax Payment-on-Account.

Self-assessment covers the following main areas:

  • self-employed profits
  • profit from rental property
  • sales or purchases for Capital Gains Tax
  • dividend income and expenses
  • all other income that has not been taxed through PAYE

Do you still need to complete a tax return?

If your tax return has not been filed there are only a few days to take action. An accountant may be able to speed up the process for you, with their knowledge and in-house systems.

If this is the situation you find yourself in, then seek help and guidance immediately, to avoid penalties and surcharges.

How to pay your tax bill

There are plenty of options to pay your tax. Just be careful that some methods are not available the closer to the deadline you get.

Same day or next day

  • online or telephone banking
  • by debit or credit card online
  • at your bank or building society – a paying-in slip from HMRC is required
  • at the Post Office – a paying-in slip from HMRC is required

3 working days

  • BACS
  • Direct Debit (if you’ve set one up with HMRC before)
  • By post, with a cheque

5 working days

  • Direct Debit (if you haven’t set one up with HMRC before)

AJN Accountants are specialists in helping contractors, freelancers and small businesses to save tax and time.


Please contact us for more information:
T: 020 3866 8951

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