🕒 Tax Time Alert! 🕒 Deadline Day: 31 January!
Attention all procrastinators! 📢 If you’re among the 5.65 million people still sitting on their Self Assessment tax return, it’s time to get moving! HMRC’s deadline for filing and paying for the 2024-2025 tax year is fast approaching—31st January is the magic date. Miss it, and you’ll be greeting February with a £100 fine. Ouch! 💸
The good news? You can start your tax return now, save it, and revisit it until you’re ready to hit ‘submit.’ As long as your payment lands with HMRC by the end of the month, you’re golden. ✅ Find various payment options on the Gov.uk website, but experts say the HMRC app is your best bet for keeping track of due dates and avoiding penalties.
Got a rock-solid reason for missing the deadline? Let HMRC know before it’s too late, and they might cut you some slack. But for everyone else, be prepared: late returns get more expensive over time. Miss the initial deadline, and it’s £100 out of pocket. Three months later? Daily penalties start creeping in at £10 a pop, possibly reaching £900! 😱
After six months, expect another sting: 5% of the tax due or £300, whichever is higher. And oh, it’s repeated at the 12-month mark. Plus, if you don’t pay on time, a 5% penalty is applied at 30 days, six months, and 12 months on the taxes unpaid. That’s in addition to interest. Yikes!
Heads up for those handling the High Income Child Benefit Charge: you can opt to pay via your tax code using the new PAYE digital service. Also, no need to list your 2025 Winter Fuel or Pension Age Winter Heating payment in the 2024-2025 tax return since they’ll sort it next year.
HMRC shared that more than 54,000 folks rang in the New Year by filing on New Year’s Eve and Day. 🎉 Impressively, 342 night owls sent theirs in during the last hour of 2025!
So, don’t delay—get those taxes squared away before the dreaded deadline. You’ve got this! 💪👩💻 #TaxTime #DontMissOut #HMRCDeadline