HM Revenue and Customs (HMRC) has issued a stark warning to nearly 5.7 million people across the UK: file your Self Assessment tax return by the looming deadline or face fines that could reach £900. The critical date to submit returns for the 2022-2023 tax year and settle any tax owed is 31 January 2026.
The Festive Filing Rush and Mounting Penalties
Despite the holiday season, thousands were preoccupied with their tax affairs. HMRC revealed that over 4,600 customers filed their returns on Christmas Day itself, with a total of 37,435 submissions made between Christmas Eve and Boxing Day. This suggests that for some, completing a tax return is becoming an unexpected festive tradition.
However, for those who have yet to file, the consequences of delay are severe. HMRC bosses have detailed a structured penalty system for late submissions:
- An initial £100 penalty applied immediately after the deadline.
- After three months, additional daily penalties of £10 per day, up to a maximum of £900.
- Further penalties of 5% of the tax due or £300 (whichever is greater) after six and twelve months.
Late tax payments also incur separate penalties of 5% of the unpaid amount at 30 days, six months, and twelve months past the deadline.
Key Changes and Support for Taxpayers
Myrtle Lloyd, HMRC’s Chief Customer Officer, urged prompt action: “Millions of customers have already completed their tax returns and can start 2026 with one less thing to worry about. For anyone yet to file, don’t leave it until the last minute. Filing now means you know exactly what you owe and have time to arrange payment.”
A significant change this year involves the High Income Child Benefit Charge (HICBC). A new digital service means thousands of Child Benefit claimants who are only in Self Assessment to pay this charge can now opt out. They can choose to pay the HICBC through their PAYE tax code instead, and eligible customers can call HMRC to de-register from Self Assessment before the filing deadline.
HMRC is directing people to its online resources for help, including the HMRC app, YouTube videos, webinars, and step-by-step guidance on GOV.UK. Officials also reminded customers that the 2025 Winter Fuel Payment and Scotland's Pension Age Winter Heating payment do not need to be included on the 2024-2025 tax return, as these will be accounted for in the following year's submission.
A Final Warning on Scams and Deadlines
As the pressure of the deadline increases, HMRC reiterated a crucial warning about scams. Taxpayers are advised to never share their HMRC login details with anyone and to consult official GOV.UK advice on spotting fraudulent communications.
With the January 31 cutoff fast approaching, the message from the tax authority is clear: act now to avoid unnecessary financial penalties and begin the new year with your tax affairs in order.
