Overview

• HMRC used X to say there is one week left to register and directed people to its online checker, which does not send user details to HMRC.
• Those who must notify include self‑employed sole traders earning over £1,000, partners in partnerships, people liable for Capital Gains Tax, and individuals with untaxed income such as rent, savings, dividends, foreign income, tips or commission.
• Registering after 5 October can trigger a failure‑to‑notify penalty if the full bill is not paid by 31 January, with the charge calculated on the unpaid amount and issued within 12 months of HMRC receiving the return.
• Existing late‑filing penalties remain in place, starting with a £100 fine, then £10 per day after three months up to £900, and further 5% or £300 charges at six and twelve months, with interest and separate partnership penalties for unpaid tax at 30 days, six months and twelve months.
• Industry commentary says Making Tax Digital from April 2026 is expected to bring five submissions a year with a points‑based system leading to a £200 fine at four points and earlier late‑payment charges, though operational details are still developing.