HM Revenue and Customs (HMRC) has issued an urgent warning to more than three million taxpayers who have yet to submit their self-assessment tax returns ahead of Saturday's deadline. The tax authority said 3.3 million people have not filed for the 2024–25 tax year, risking an automatic £100 fine.
So far, 8.6 million taxpayers have completed their returns. HMRC urged those still to file to act immediately, noting that penalties apply even if no tax is owed or if the tax is paid on time. Anyone missing the deadline will face a £100 fixed penalty, with additional daily fines of £10 after three months, up to a maximum of £900.
After six months, taxpayers face a further penalty of either £300 or 5% of the tax due, whichever is higher, with another charge after 12 months. HMRC stressed that returns should be submitted on time even if payment cannot be made in full, as missing the deadline can lead to escalating penalties and enforcement action.
The warning follows figures showing HMRC issued £325 million in fines and interest to late payers last year, with at least 600,000 taxpayers missing the payment deadline. HMRC estimates that £8.7 billion of self-assessment tax went unpaid last year, accounting for 12.5% of the £69.6 billion expected. In total, around £44 billion in business and personal taxes are overdue, with £37.8 billion considered ready for debt collection.
