Envelope showing HMRC logo on top of a form to complete a self-assessment tax return

Don’t forget to complete your tax return

HMRC is urging those who have still to complete their tax return to do it now. With less than a month to go until 31 January deadline, the countdown is on for 5.4 million customers who still need to complete and pay their self-assessment and avoid penalties.

Thousands of people completed their tax returns before the fizz was flat on New Year’s Day: HMRC says more than 24,800 people filed on 1 January. A further 38,000 had even squeezed theirs in before the bells on 31 December, with 310 filing between 23:00 and 23:59.

You can file your tax return online, via GOV.UK.

Anyone required to file a tax return for the 2023 to 2024 tax year who misses the 31 January 2025 deadline could face an initial late-filing penalty of £100.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “We know completing your tax return isn’t the most exciting item on your New Year to-do list, but it’s important to file and pay on time to avoid penalties or being charged interest.”

You don’t have to complete it all in one go: you can save what you have done so far and pick it up again later.

Once a tax return is filed, payments can also be made quickly and securely through the HMRC app. You can set up notifications in the app to remind you when payments are due, so you don’t need to worry about missing deadlines or penalties. Information about the different ways to pay can be found on GOV.UK.

For people who can’t meet the tax return deadline, HMRC will treat those with reasonable excuses fairly if they tell it before 31 January.

The penalties for late tax returns are:
• An initial £100 fixed penalty, which applies even if there is no tax to pay or if the tax due is paid on time
• After 3 months, additional daily penalties of £10 per day, up to a maximum of £900
• After 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
• After 12 months, another 5% or £300 charge, whichever is greater.

There are additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months. If tax remains unpaid after the deadline, interest will also be charged on the amount owed, in addition to the penalties above.

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