£100 penalties are handed out to those who miss the looming deadline
The deadline is fast approaching – and people should act!(Image: Getty Images)
HM Revenue and Customs (HMRC) has issued a warning that 5.65 million people still need to submit their Self Assessment tax return, with the deadline of January 31 looming.
Despite millions yet to finalise their return, thousands of taxpayers utilised the new year period to sort out their tax matters. According to HMRC data, 54,053 individuals filed their Self Assessment return for the 2024-2025 tax year on New Year’s Eve and New Year’s Day.
Of these, 342 taxpayers submitted their return in the final hour of 2025, while 19,789 opted to file on New Year’s Day, foregoing traditional celebrations, reports the Express. The peak hour over the two-day period was between 11:00 and 11:59 on 31 December, when 3,927 individuals completed their return.
In total, over 6.36 million individuals have already submitted their Self Assessment, meaning millions are entering 2026 with their tax affairs in order. However, HMRC is urging those who have not yet begun to act swiftly to avoid penalties.
Anyone who misses the January 31 deadline will face an automatic £100 late filing penalty, regardless of whether they have no tax to pay or if the tax due is paid punctually,
Myrtle Lloyd, HMRC’s Chief Customer Officer, said: “New Year is a great time to start afresh. What better way than to ensure your tax affairs are in order for another year than completing your tax return. If you have yet to start, the clock is ticking, go to GOV.UK and start today.”
HMRC highlighted that comprehensive online guidance and support can be found on GOV.UK to assist customers in completing their returns.
Taxpayers have the flexibility to begin their return, save their progress, and revisit it multiple times before submission. Whilst the return must be submitted by January 31, payment can be deferred as long as it’s settled by the deadline.
The HMRC app is recommended as the most convenient payment method, offering optional reminders when payments fall due. Details on other payment options are also accessible online.
For people unable to meet the deadline, HMRC has encouraged customers to make contact before January 31. The department confirmed it will handle cases with reasonable excuses fairly.
Penalties escalate the longer a return remains unfiled. Following the initial £100 fine, daily charges of £10 may apply after three months, totalling up to £900.
Beyond six months, an additional penalty of 5% of the tax owed, or £300 if greater, may be imposed, with a further 5% or £300 after 12 months. Separate penalties and interest charges also apply for late tax payment.
