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HMRC Warns Self Assessment Filers of 31 January Deadline and Automatic Fines

MTD for Income Tax starts 6 April 2026 for businesses above the £50,000 turnover threshold.

Overview

  • Missing the online deadline triggers a £100 fine, rising to £10 per day after three months (up to £900) with further 5% or £300 penalties at six and twelve months, and penalty notices must be paid within 30 days.
  • Festive filing is rising, with 4,606 returns submitted on Christmas Day and 37,435 between Christmas Eve and Boxing Day, as HMRC urges customers to file early.
  • HMRC’s chief security officer warns of scammers impersonating the department and urges taxpayers to avoid clicking suspicious links or sharing personal information and to report attempts directly to HMRC.
  • Early filers may be able to code tax through PAYE if submitted by 30 December, and those unable to pay in full can set up a Time To Pay arrangement or use the HMRC app to manage payments.
  • Guidance reiterates who must file: sole traders earning over £1,000, business partners, people with capital gains or the High Income Child Benefit Charge, and those with untaxed income such as rent, tips, dividends or foreign income.