The deadline for submitting a Self Assessment tax return online is midnight on 31 January each year. If you missed the Self Assessment filing deadline for reporting your 2023/24 income, you should send your tax return as soon as possible. Depending on how quickly you do this, you may be able to minimise the late filing penalties applied by HMRC.
An estimated 1.1 million people missed the deadline for filing their annual tax returns, according to HM Revenue and Customs (HMRC).
They now face a penalty of at least £100 for missing the cut-off at the end of the day last Friday, the tax authority has said, unless they can provide a valid excuse for failing to file.
In this blog post, we explain what you need to do if your tax return is overdue. We also discuss the penalties that apply when you miss the Self Assessment filing deadline and do not pay your tax bill on time. If you are unable to pay your bill in full, there are options available to you.
File your late Self Assessment tax return as soon as possible
Missing an important deadline is always unfortunate, but try not to panic. You can still file your Self Assessment tax return (SA100) online or by post, so just focus on getting this done as soon as you’re able. Online filing is much easier and quicker (and you’re less likely to make a mistake), so use this method if you can, or contact us to see if we can help.
There is no need to contact HMRC before doing so. Simply file your tax return as you normally would. If this is your first time sending a Self Assessment tax return to HMRC, you may need to register for self assessment, and we can help with this too. You need to be registered for Self Assessment before you can file your first tax return.
If you normally send your Self Assessment tax return by post but end up missing the filing deadline of 31 October, you still have an extra 3 months to file it online before it is deemed late. Paper tax returns are only due earlier because it takes HMRC more time to process them than online returns.
As long as you send it online on or before 31 January, you won’t have to pay a late filing penalty. However, HMRC will apply the standard penalties if you file the late tax return on paper after 31 October.
Self Assessment late filing penalties
Unfortunately, you will have to pay a late filing penalty of £100 if your Self Assessment tax return is up to three months late. Further charges will apply if it is even later.
HMRC will also charge penalties and interest if you fail to pay your tax bill on time. The payment deadline is midnight on 31 January – exactly the same as the online filing deadline.
If you have a reasonable excuse for why your tax return (or payments) were late, you can appeal to HMRC against a Self Assessment penalty. A reasonable excuse is something that prevented you from meeting tax obligations that you took reasonable care to meet, such as:
- Your spouse, partner, or another close relative passed away shortly before the filing or payment deadline
- You had a serious or life-threatening illness or an unexpected stay in hospital
- Your computer or software failed shortly before or while you were preparing your online tax return
- There were service issues with HMRC online services
- A fire, flood, or theft prevented you from completing the tax return
- Unexpected postal delays
- Delays related to a mental illness or disability that you have
- You misunderstood or were unaware of your legal obligation
- You relied on someone else (e.g. an accountant) to file your return but they failed to do so
Is late filing information shared publicly?
HMRC will not publicly disclose any information about your Self Assessment tax returns or bills. You do not have to worry about clients, lenders, credit reference agencies, or anyone else finding out, so it should have no impact on your personal or business reputation.
Will my tax debt affect my credit score?
Owing a debt to HMRC, whether for tax or penalties, has no effect on your personal credit score. The reason for this is simple: HMRC has not given you credit. Yes, you may owe money to the Government, but you didn’t borrow it from them.
For this reason, any debts you owe to HMRC won’t negatively impact your financial health or reduce your chance of obtaining credit.
However, if these debts remain outstanding and you do not engage with HMRC or attempt to pay what you owe, the outcome may be very different. Under such circumstances, HMRC may:
- use a debt collection agency to settle your debt
- directly recover your tax debts from your wages or any monthly pension payments you receive
- take things that you own and sell them (unless you live in Scotland)
- take money directly from your bank account or building society savings (unless you live in Scotland)
- take you to court
- start bankruptcy proceedings
As long as you contact HMRC as soon as possible and try to come to an arrangement, you shouldn’t have to worry about any of these things. HMRC will only use its tax debt enforcement powers where a person or business deliberately avoids paying their tax bills.
Self Assessment dates for your diary
The tax year runs from 6 April in one year until 5 April in the following year. We are currently in the 2024/25 tax year, which ends on 5 April 2025.
Add the following dates to your diary to avoid missing any deadlines in future tax years:
- File a Self Assessment tax return by post – by midnight on 31 October
- File a Self Assessment tax return online – by midnight on 31 January
- Pay your tax bill – by midnight on 31 January
- Make a first ‘payment on account‘ – by midnight on 31 January
- Make a second payment on account – by midnight on 31 July
If you need to file a tax return for the current 2024/25 tax year, you must send it on or before 31 October 2025 (paper return) or 31 January 2026 (online return). Any tax that you owe for the period covered in your tax return must be paid in full by 31 January 2026.
You may also have to make a first payment on account on or before 31 January 2026 if your last tax bill was more than £1,000. A second payment on account will then be due on or before 31 July 2026.
Lots of people get caught out by payments on account, so take care and make sure that you’re putting enough money aside each month to cover your tax bill. If you’d rather not set up a Budget Payment Plan with HMRC for this purpose, consider putting the money in a high-interest savings account ready to use when it’s time to pay your Self Assessment bill.
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Keeping on top of your tax obligations can be challenging, especially if you have other demands on your time. Being faced with penalties for missing the Self Assessment filing deadline or paying your tax bill late just adds to the stress. Let us know if we can help.
For more small business advice and tax guidance, explore the rest of the articles in this blog.