Time to get started on the return that won't go away

January 31st is a date to dread for many of those who fill in their own tax return. The idea of sitting down with a pile of invoices and pension and income statements is enough to curdle the blood. Incredibly, according to HM Revenue and Customs, 489 people did exactly this on Christmas Day.

For those who spent the 25th eating too much, there are 11 days to go if you are planning to send in a paper return, or just two days to register with the HMRC online filing system to ensure your activation Pin number is sent out in time.

PricewaterhouseCoopers suggests the following tips: get all the paperwork together before starting; make sure the benefits you list correlate to your P11D benefits statement; remember that not all benefits are taxable (Child Benefit, for instance, is not); and include personal pension payments, but not contributions or AVCs made to an employer's pension fund. Don't enter income from Isas or Peps; don't forget to sign the form (do keep a copy); and, of course, don't forget that any tax owed also needs to be paid by 31 January.

If it looks unlikely that you will be finished by the 31st, you can still avoid the £100 initial penalty (plus £60 a day for prolonged delays and interest at 7.5 per cent on the outstanding tax) by estimating the tax you owe and paying that in advance of filing the form. Any extra will be returned to you by the Revenue. But if you underestimate by less than £100 it's not the end of the world: you will simply be fined the outstanding amount. Visit hmrc.gov.uk/howtopay/self_assessment.htm
for ways to pay.