Some 6.36 million people headed into 2026 with their Self Assessment tax return filed, but that leaves 5,65 million still to file!
With the 31 January deadline looming, some 54,053 tax payers chose to use New Year’s Eve and New Year’s Day to file their return.
And, HMRC says some 342 customers filed their tax return in the last hour of 2025!
Oh, and those penalties for late filing are:
- An initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time.
- After 3 months, additional daily penalties of £10 per day, up to a maximum of £900.
- After 6 months, a further penalty of 5% of the tax due or £300, whichever is greater.
- After 12 months, another 5% or £300 charge, whichever is greater.
There are also additional penalties for late payments of 5% of the tax unpaid at 30 days, 6 months, and 12 months. If tax remains unpaid after the deadline, interest will also be charged on the amount owed, in addition to the penalties above.
