Overview
- Online returns for 2024/25 and any tax due must be submitted by 11:59 p.m. on 31 January 2026 or a £100 fine applies immediately, even if no tax is owed.
- Penalties escalate to £10 per day after three months (capped at £900), then a further 5% of tax due or £300 at six months and again at 12 months, with interest charged on late payments.
- Martin Lewis urges anyone told to file to do so and advises paying a reasonable estimate now to curb 7.75% interest, with groups likely to need returns including some self‑employed, high earners receiving Child Benefit, and those with over £10,000 in savings or dividend income.
- HMRC reports nearly 340,000 Self Assessment payments via its app since 6 April 2025, about a 65% rise year on year, and highlights options such as bank transfer, Direct Debit, and Time To Pay plans for eligible debts under £30,000.
- More than 1.3 million people were told they owed tax for 2023/24, up from 675,000 in 2021/22, and HMRC notes limited phone support around the deadline with webchat available and appeals possible for reasonable excuses.