A Last Minute Self Assessment Survival Guide (from a Chartered Accountant who’s seen things)
If you’re a Sole Trader reading this in mid-January, there’s a good chance you fall into one of three camps:
Your tax return is done and filed (in which case, congratulations — please teach a masterclass).
You know it needs doing and feel mildly unwell every time you think about it.
You’re telling yourself, “I work best under pressure,” while your accountant quietly stocks up on caffeine and cancels their social life.
With just 11 days until the Self Assessment deadline, let’s talk honestly about what’s going on — practically and psychologically — because this annual ritual is as much about human behaviour as it is about tax law.
Why We All Do This (Yes, Even Sensible People)
Every January, I speak to intelligent, capable business owners who can run companies, manage staff, juggle clients… and yet somehow can’t bring themselves to send a bag of receipts before the 31st.
This isn’t because you don’t care. It’s because tax returns trigger a perfect storm of avoidance psychology:
They’re emotionally loaded (nobody enjoys facing the bill).
They’re mentally vague (“I’ll sort it once I’ve found everything”).
And they compete with actual paid work, which always feels more urgent.
Add Christmas, dark mornings, and the belief that future you will be more organised, and suddenly it’s mid-January and your accountant is replying to emails at times normally reserved for emergency services.
A Quick Word from our perspective:
We absolutely understand life gets busy. What does make things harder is silence. A late return we know about is manageable; a late return that appears on 30 January at 9:47pm (yes that happens) tends to shave years off our lives.
Which brings us neatly to…
What You Can Still Do (Even Now)
1. Progress Beats Perfection
You do not need every last receipt perfectly categorised to get started. Send what you have. Missing information can be flagged — but no information helps no one.
Starting is the hardest part. Once the numbers exist in some form, momentum usually follows.
2. Communicate Early
If something’s missing, say so.
If you’re unsure about an expense, ask.
If cashflow is tight, discuss payment options.
Radio silence is far more stressful than an honest “I’m struggling to pull this together.”
3. Remember the Actual Consequences
Miss the 31 January deadline and HMRC issues an automatic £100 penalty — even if you owe no tax. After that, penalties stack with impressive enthusiasm.
Meanwhile, your accountant’s January workload does not magically reduce just because the deadline passes.
A Final Thought (Before We All Go Back to the Spreadsheets)
If you’ve left it late, you’re not alone — but now is the moment to act. Send the email. Upload the documents. Start the process.
Self-assessment doesn’t reward panic, but it does respond well to action.
And if you’re reading this thinking,
“I should probably deal with this today” — you’re absolutely right.