Urgent HMRC warning as 3.4m people have days to avoid £100 fine
Urgent HMRC warning as 3.4m people have days to avoid £100 fine
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Millions of Brits have been warned 'time is running out' ahead of HMRC's looming deadline. Every year, around 12 million adults have to sort their own taxes by filling in a Self Assessment. Despite popular belief, this isn't just for those who are self-employed and is also a requirement for landlords, employees or pensioners with a yearly income of £100,000 or more, and people whose income, or a partner's income, is over £50,000 and claim Child Benefit. As of January 23, 2025, a whopping 8.6 million people have already filed their tax return. However, 3.4 million Self Assessment returns still needed to be filed before the cut-off date (January 31).
Failure to do so will result in a £100 penalty, even if there is no tax to pay - or if the tax due is paid on time. These fines will increase after three, six, and 12 months - unless you can provide HMRC with a 'reasonable excuse'. The deadline, which is this Friday at 11.59pm, requires Brits to pay their tax return for the 2023-2024 tax year (April 6 - April 5). GOV UK states that the 'easiest way' to pay tax following a Self Assessment is via the HMRC app, which takes 'less than a minute with immediate confirmation of payment'.
"Time is running out for the millions still to file their Self Assessment tax return by 31 January," added Mrytle Lloyd, HMRC's Director General for Customer Services. "Help and support is available for those who have not yet started their return. Visit GOV.UK and search 'Self Assessment' to find out more.".
