More than a million people face fines if they miss the deadline to file their Self Assessment tax return in two days.
HM Revenue and Customs (HMRC) issued a final warning ahead of the Monday, February 28 deadline at 11.59pm.
It extended the original January 31 deadline to give extra time to people affected by the covid pandemic.
READ MORE: Ryanair cancels all Liverpool to Ibiza flights for summer 2022
Over 10 million customers have filed their 2020/21 tax returns, reports the Daily Record.
Those yet to do so face an initial late filing fee of £100 if their tax return is up to three months late. They could also face further costs, depending on how late they file.
Self-assessment taxpayers have until Friday, April 1 to avoid receiving a late payment penalty by paying their outstanding tax bill, or by arranging
a payment plan.
Interest is applied to all outstanding balances since February 1.
Myrtle Lloyd, HMRC's director general for customer services, said: "There is [less than] one week left to complete your tax return if you haven't done so already.”
Who needs to complete a Self Assessment tax return?
HMRC says customers must complete a Self Assessment return if, in the last tax year (April 6, 2020 to April April 5, 2021), they:
• earned more than £2,500 from renting out property
• received, or their partner has received, Child Benefit and either of them had an annual income of more than £50,000
• received more than £2,500 in other untaxed income, for example from tips or commission
• are a self-employed sole trader whose annual turnover is more than £1,000
• are an employee claiming expenses in excess of £2,500
• have an annual income of more than £100,000
• have earned income from abroad that they need to pay tax on
• were a partner in a business partnership
How to pay your tax bill
Various payment options include:
• paying through a customers’ tax code (PAYE customers only)
• Payment on Account
• setting up an online monthly payment plan (self-serve Time to Pay)
• paying by debit or corporate credit card
• paying at a bank or building society
Customers should contact HMRC if they have concerns about paying their tax bill.
Visit GOV.UK for a full list of payment options and the eligibility criteria here. https://www.gov.uk/pay-self-assessment-tax-bill
