Interest! That's what happens. The deadline for HMRC Self Assessment tax returns and paying the tax owed for the 2021 to 2022 tax year is 11:59 pm on Tuesday 31st January 2023. For the previous two years, due to the pandemic, HMRC allowed taxpayers more time to file their tax returns and pay the tax before charging penalties. However, that's all stopped now. No relaxation on penalties is expected this year. If you pay your tax late you will be charged interest. If your tax is due on 31 January and is not paid on time, interest will run from 1 February. You will also be charged interest on late payments on account (which are due on 31 January and 31 July). Have you paid yours? . . . #selfassessment #HMRCtaxreturns #januarydeadline #needanaccountant #essexaccountant #supportingsmes #businessadviceuk #uktaxadvice #smallbusinessadvice #accountingfirm #leighonsea #leighonsealife #leighonseaessex #leighonseabusiness