HM Revenue and Customs (HMRC) has issued a crucial reminder to millions of UK taxpayers that the deadline for filing and paying their Self Assessment tax returns is swiftly approaching. All individuals required to submit an online Self Assessment return for the 2024/25 tax year must ensure their tax payments are made by 11.59pm on January 31, 2026.
Those new to the Self Assessment system should obtain their Unique Taxpayer Reference (UTR) in good time to avoid complications when submitting their returns. Conversely, individuals who no longer need to file a tax return are strongly advised to notify HMRC immediately. Failure to do so could result in unnecessary fines, even if you are not obligated to submit a return.
In a recent announcement on X (formerly Twitter), HMRC stated: “The #SelfAssessment deadline is fast approaching. If you no longer need to submit a tax return, let us know as soon as possible.”
Penalties for late submission begin with an automatic £100 fine if the return is not filed by the deadline. If the return remains outstanding three months after the due date, additional daily penalties of £10 apply, up to a maximum of £900.
After six months, a further penalty of 5% of the tax owed or £300 (whichever is greater) is imposed. This increases again after 12 months, with another 5% charge or £300 applied.
Late payment penalties also escalate over time. An initial surcharge of 5% applies 30 days after the payment deadline, with further 5% penalties added after six and twelve months. On top of these charges, HMRC will also levy interest on all outstanding tax amounts until they are fully paid.
Taxpayers are urged to act now—filing and paying on time not only avoids costly penalties but also helps ensure compliance with HMRC regulations.