Taxpayers Urged to File Self Assessment Returns Ahead of Deadline
With only eight days remaining until the Self Assessment deadline, HM Revenue and Customs (HMRC) is calling on the remaining 3.3 million taxpayers to submit their returns for the 2024 to 2025 tax year. Those who fail to do so by 31 January risk incurring an automatic £100 penalty.
Current Filings and Potential Penalties
So far, 8.6 million individuals have completed their Self Assessment returns this year. Last year, over 11.5 million taxpayers met the deadline, and HMRC is keen to assist those still outstanding to follow suit. The agency warns that missing the deadline not only results in the initial penalty but may also lead to additional charges over time.
- Initial £100 penalty for late submissions, regardless of whether tax is owed.
- Daily fines of £10 can accrue after three months, reaching a maximum of £900.
- Five percent charges on the unpaid tax may apply after six and twelve months.
Moreover, penalties are imposed for late payment of tax, with added interest for any dues that remain unsettled after the deadline.
Resources Available for Taxpayers
Taxpayers who have not yet filed can access a variety of online resources at GOV.UK, including informative guidance, webinars, and instructional videos on YouTube. HMRC’s online services are operational all year, providing support at any time.
Myrtle Lloyd, HMRC’s Chief Customer Officer, emphasised the importance of not waiting until the final day.
“Filing now will give you peace of mind that your tax return is completed and if you have tax to pay, you have a week to arrange payment,” she commented.
Deadline Support and Communication
This year, the Self Assessment deadline coincides with a Saturday, meaning taxpayers will need to submit their returns online. For those requiring personal assistance, HMRC’s phone lines will be available until Friday, 30 January, reopening after the deadline on Monday, 2 February. On the deadline itself, webchat support will be available through HMRC’s Online Services Helpdesk.
Scams and Fraud Awareness
As the deadline approaches, HMRC advises individuals to remain vigilant against potential scams, highlighting that the agency never solicits personal information via text or email. Taxpayers can find fraud prevention measures and information about scams on the GOV.UK website.
Upcoming Regulatory Changes
Looking ahead, sole traders and landlords earning over £50,000 are advised that they will need to comply with Making Tax Digital (MTD) regulations from 6 April 2026, which require quarterly income and expenses reporting. HMRC suggests those who haven’t yet registered to start familiarising themselves with this new process.
In addition, customers need not include certain payments, such as the Winter Fuel Payment, in their current tax return, as these will be accounted for in the following year’s submission.
Source: official statements, news agencies, and public reports.
https://www.gov.uk/government/news/eight-days-left-to-file-your-self-assessment
