1st January really could be an 'interesting' day of weather. Just going by the UKV charts you get snowfall accumulations by the 2nd of:-

The most notable fall being on the 1st with this snapshot (Northern Scotland gets most of it's snow from the preceding LPs):-

With some damaging winds around too (and for the Western Isles on 31/12):-

I imagine the snowfall picture will be different come the day but given recent form I wouldn't bet against a significant wind event. I guess that does all depend on the modelling of the jet and how it develops the LP so there's plenty of time still for things to change and the LP not to deepen so explosively.
In terms of the bigger picture and it still looks like a colder spell is favoured, even IMBY, although there's enough dissenting members particularly on southern ens set to make a collapse to mild after a couple of cold days a possible albeit currently much less likely scenario. HP looks to be generally close to the UK after the above LP/LPs finish with us, so I'd imagine it would be fairly dry for many, away from prone areas.
It's not the worst model watching at the moment, albeit I'd imagine most would be happy to see the models move away from phasing the LP with the jet to bring about the above outcome from a wind POV.
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