HMRC have issued a penalty warning to some 5.4 million taxpayers who have not returned their self-assessment form ahead of the January 31 deadline.
Anyone required to file a tax return for the 2023 to 2024 tax year who misses the deadline could face an initial late filing penalty of £100.
Some 24,828 people submitted self-assessment tax returns on January 1, while a further 38,260 taxpayers had squeezed their return in around the New Year’s Eve celebrations on December 31.
This included 310 people who filed their return between 11pm and 11.59pm.
The penalties for late returns are:
See also: Tips for completing your self assessment tax return
Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “We know completing your tax return isn’t the most exciting item on your New Year to-do list, but it’s important to file and pay on time to avoid penalties or being charged interest.
“The quickest and easiest way to complete your tax return and pay any tax owed is to use HMRC’s online services – go to GOV.UK and search ‘Self Assessment’ to get started now.”
Once a tax return is filed, payments can also be made through the HMRC app.
The revenue body previously said that 4,409 people completed tax returns on Christmas Day.
