HM Revenue and Customs (HMRC) has issued a crucial reminder for millions of UK taxpayers to submit their Self Assessment tax returns before the January 31, 2026 deadline. With just one week remaining, those who delay risk incurring a fixed penalty of £100, even if no tax is owed or the payment is made on time.
The penalty system escalates quickly: after three months, daily fines of £10 apply, capped at £900. At six months, an additional charge of 5% of the tax due or £300—whichever is greater—is imposed. After 12 months, another 5% or £300 penalty is added, significantly increasing the financial consequences of late filing.
Myrtle Lloyd, HMRC’s Chief Customer Officer, emphasized the importance of early submission: “Don’t leave it until deadline 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.”
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For those concerned about paying their tax bill, HMRC offers online payment plans accessible by searching “difficulties paying HMRC” on GOV.UK. Support is also available via phone from Monday to Friday, 8am to 6pm. Note that the phone lines will close on Friday, January 30, and reopen on Monday, February 2, after the deadline.
On the deadline day itself, Saturday, January 31, HMRC will provide webchat assistance through its Online Services Helpdesk. Taxpayers are encouraged to seek help before the cutoff to avoid delays.
Taking action early not only avoids penalties but also ensures peace of mind during the busy tax season.