HM Revenue and Customs (HMRC) is urging taxpayers to register for Self Assessment by October 5, 2026, to avoid potential penalties. Those who need to complete a tax return for the 2025/26 tax year must notify HMRC by this deadline, especially if they have not previously submitted a return or need to reactivate their Self Assessment account.
The government has enhanced its online registration system, making it easier for individuals to sign up ahead of the deadline. This reminder particularly applies to individuals who became self-employed between April 6, 2025, and April 5, 2026, as well as those who have other taxable income to declare. This can include individuals earning over £1,000 from self-employment before expenses or those receiving certain untaxed income, such as from property or other sources.
It’s important to note that missing the October 5 registration deadline does not immediately incur a £100 fine. However, failure to notify HMRC can lead to a “failure to notify” penalty if the tax due is not paid by January 31. This penalty depends on the outstanding amount and can be charged within 12 months after HMRC receives the individual’s Self Assessment tax return.
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Late submission of tax returns also triggers penalties: an initial £100 fine, followed by daily charges of £10 after three months (up to £900 maximum). After six months, an additional penalty of 5% of the tax due or £300 (whichever is higher) is applied, and after twelve months, another charge of 5% or £300 is levied.
Myrtle Lloyd, HMRC’s Chief Customer Officer, emphasised the importance of timely registration, stating, “Anyone new to Self Assessment may not realise they need to register before they can submit their tax return.”
She also noted, “Registering is quicker and easier than ever,” encouraging taxpayers to act promptly to avoid penalties.