HMRC Tax Return Countdown: Millions face penalty risk as deadline nears
Updated: 11 minutes ago
Time is running out for 5.4 million taxpayers who still need to file and pay their Self Assessment tax returns. With the deadline looming on 31 January, HM Revenue and Customs (HMRC) has issued a reminder to act now to avoid financial penalties.
Thousands of taxpayers have already taken action, with more than 24,800 filing their returns on New Year’s Day. An additional 38,000 submitted theirs on New Year’s Eve, including 310 who filed within the final hour of 2024.
Filing on time is not just about avoiding penalties; it also helps fund public services and supports the Government’s Plan for Change, aimed at boosting economic stability and investment across the UK.
The vast majority of taxpayers—97%—now file online. This allows them to complete their returns in stages, saving progress and returning when ready. Payments can also be processed quickly through the HMRC app, which offers secure payment options and deadline notifications to ensure no last-minute surprises.
For those unable to meet the deadline, HMRC has assured taxpayers that reasonable excuses will be treated fairly if reported before 31 January. However, late filers could face penalties starting at £100, with further charges increasing over time. Unpaid taxes will also accrue interest, adding to the financial burden.
Taxpayers can access resources to help with their returns on GOV.UK, including video tutorials and step-by-step guidance. HMRC encourages anyone yet to file to act promptly to avoid penalties and support the wider economy.
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.
“The quickest and easiest way to complete your tax return and pay any tax owed is to use HMRC’s online services – go to GOV.UK and search ‘Self Assessment’ to get started now.”
