With only a week left until the Self Assessment deadline, 3.4 million customers are yet to file their 2023 to 2024 tax return.
HM Revenue and Customs (HMRC) is warning them to file now or risk missing the January 31 deadline – and getting a £100 penalty.
More than 8.6 million (66%) have already filed their tax return. Those who are yet to start can go to GOV.UK to find all the support and guidance they need at their fingertips including live webinars, video tutorials as well as plenty of online help sheets.
Nearly 360,000 workers have paid their Self Assessment tax bill via the HMRC app since April 6, 2024, totalling more than £605 million.
Myrtle Lloyd, HMRC’s director general for Customer Services, said: “Time is running out for the millions still to file their Self Assessment tax return by January 31. Help and support is available for those who have not yet started their return.”
A full list of the different ways to pay, including payment plans, can be found on GOV.UK.
Customers’ reasons for not paying their tax bill or arranging a payment plan by the deadline will be considered individually. While customers who provide HMRC with a reasonable excuse may avoid a penalty, those without reasonable excuse face will be issued with a penalty including:
- 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 three months, additional daily penalties of £10 per day, up to a maximum of £900
- After six 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.
Customers need to be aware of the risk of falling victim to scams and should never share their HMRC login details with anyone, including a tax agent, if they have one. HMRC scams advice is available on GOV.UK.
