3.4 million people are yet to file their Self Assessment, and, despite popular belief, the mandatory tax return isn’t just for the self-employed
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.”
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If you’re still unsure whether you need to file a self assessment, you can check the full criteria here. You must tell HMRC by 5 October if you need to complete a tax return and have not sent one before. You can do this by registering for Self Assessment.
If you’ve been affected by a recent illness or bereavement – you may be able to use one of the reasonable excuses below and fill out your tax return late with no penalty. Making a mistake on your tax return, not receiving a reminder from HMRC, having a cheque bounced or payment failed, or finding HMRC’s website ‘too difficult to use’ are not classed as ‘reasonable excuses’.
HMRC Self Assessment – reasonable excuses
- Your partner or another close relative died shortly before the tax return or payment deadline
- You had an unexpected stay in hospital that prevented you from dealing with your tax affairs
- You had a serious or life-threatening illness
- Your computer or software failed while you were preparing your online return
- Issues with HM Revenue and Customs (HMRC) online services
- A fire, flood or theft prevented you from completing your tax return
- Postal delays that you could not have predicted
- Delays related to a disability or mental illness you have
- You were unaware of or misunderstood your legal obligation
- You relied on someone else to send your return, and they did not
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