LEAVING IT CLOSE: Millions STILL yet to file HMRC Self Assessment tax returns a week before deadline
With less than a week remaining until the Self Assessment deadline, HM Revenue and Customs (HMRC) has urged the 3.4 million taxpayers yet to submit their 2023/24 tax returns to act swiftly or face penalties. The deadline is 31 January, and failing to meet it could result in an automatic £100 fine.
To date, more than 8.6 million, or 66%, have already filed their returns. HMRC is directing those who have yet to start to GOV.UK, where resources such as live webinars, video tutorials, and online guides are readily available to simplify the process.
Once filed, payments can be made quickly and securely via the HMRC app, which has gained popularity among taxpayers. Since 6 April 2024, nearly 360,000 users have paid their tax bills through the app, with transactions totalling more than £605 million.
Myrtle Lloyd, HMRC’s Director General for Customer Services, warned that time is running out, saying: “Time is running out for the millions still to file their Self Assessment tax return by 31 January. Help and support is available for those who have not yet started their return. Visit GOV.UK and search ‘Self Assessment’ to find out more.”
The Government portal also outlines the full range of payment options, including payment plans, for those unable to pay their tax bill in full. Taxpayers are reminded to include bank details in their return to expedite any potential repayments.
HMRC will consider individual circumstances for those unable to pay on time or arrange a payment plan. Reasonable excuses may prevent penalties, but taxpayers without valid justification risk additional charges. Late payments attract a 5% penalty after 30 days, with further penalties applied at six and twelve months, alongside interest on the overdue amount.
