Deadline is by 11pm and every minute and second counts. Below are some of the transfers done as at the time of posting
18.38: BREAKING NEWS: England international Jay Bothroyd is set to join Sheffield Wednesday on loan from QPR. I'd expect to see several more departures from Loftus Road before the window closes given how bloated their squad now is following a dozen arrivals this summer.
18.34: Rafael van der Vaart - who today left Spurs in a £10.2m deal - has spoken of his delight at 'coming back home' after rejoining Hamburg four years after he left the club for Real Madrid.
'It feels a bit like I am coming back home,' he said. 'Everybody knows that I still have a strong bond with Hamburg and it is a compliment when a club wants you every year. This season was the right time.'
18.31: Nigerian defender Efe Ambrose is at Celtic is ahead of his proposed move to the club. The Hoops have today rejected a bid from Huddersfield for striker Anthony Stokes.
18.27: All is quiet from the western front, but I'm sure that won't remain the case for long. There are no doubt lots of 'I's being dotted and 'T's being crossed right now.
18.16: Here's a reminder of a few of the deals we're waiting to be completed... both Hugo Lloris and Joao Moutinho are locked in talks with Spurs after the club agreed transfer fees with Lyon and Porto respectively. Spurs are also attempting to hijack Liverpool's bid for Clint Dempsey, while the Reds are also pursuing a loan move for Daniel Sturridge. Expected more deals from Man City too, who are looking to tie up deals for Matija Nastasic and Javi Garcia. And, of course, there are bound to be a few surprises!
18.09: DONE DEAL: Former Liverpool forward Ryan Babel has returned to Ajax on a free transfer after his contract at Hoffenheim was cancelled. Another player who hasn't yet lived up to his hype.
18.07: DONE DEAL: Gael Kakuta has joined Vitesse Arnhem on loan from Chelsea. His career hasn't take off as it was expected too...
18.00: Norwich City have reportedly made enquiries for Stoke's Cameron Jerome and West Ham's Carlton Cole as they look to bring in a striker before the deadli
17.58: It's time for a quick recap of the key done deals today... Nigel de Jong has left Man City for AC Milan in a £3.5m deal, Scott Sinclair has joined Man City from Swansea for £8m, Charlie Adam has moved from Liverpool to Stoke for £4m, Maicon has left Inter for Man City in a £3m deal, Rafael van der Vaart has rejoined Hamburg from Spurs in a £10.2m deal, Pablo Hernandez has joined Swansea from Valencia in a club record £5.55m deal, and Nicklas Bendtner has joined Juventus on a season-long loan deal from Arsenal.
17.49: DONE DEAL: Everton have signed FC Copenhagen defender Bryan Oviedo. The Costa Rican becomes the Toffees' fourth signing of the summer for an undisclosed fee.
17.35: BREAKING NEWS: Genk and Belgium striker Christian Benteke, 21, is on a plane to Birmingham to try and complete his move to Aston Villa.
17.32: Bendtner has used his Twitter account to express his delight at his move to Juve, posting: 'I can now finally say I am a Juventus player. Very proud and can't wait to wear the stripes! I hope we will have great times together.'
17.27: DONE DEAL: Juventus have confirmed the signing of striker Nicklas Bendtner on a season-long loan deal from Arsenal.
17.22: Colin Young is reporting that Jermaine Jenas did not turn Sunderland down, because they were never interested in him in the first place. Reports earlier in the day suggested a deal over a permanent move was agreed between the two clubs. We're still expecting him to be reunited with Martin Jol at Fulham
17.02: BREAKING NEWS: Spurs' move for Joao Moutinho is reportedly stalling over the Portuguese's personal terms.