With the 31st January deadline fast approaching, more than 5.65 million still need to file their Self Assessment tax return, according to HMRC figures.
To date, more than 6.36 million taxpayers have submitted their tax return, which leaves over 5.65 million who still need to complete their Self Assessment.
While many people chose to ring in the New Year with a drink or two, thousands actually celebrated by filing their Self Assessment tax return! HMRC figures show that 54,053 customers chose filing their tax return for the 2024 to 2025 tax year on New Year’s Eve and New Year’s Day.
The Self Assessment Figures show:
- 342 customers beat the bells by filing their tax return in the last hour of 2025
- 19,789 missed their traditional New Year’s Day walk or day in front of the TV to file their tax return instead
- 3,927 people filed between 11:00 and 11:59 on 31st December – the most popular time to file over the two days
Myrtle Lloyd, HMRC’s Chief Customer Officer, said: “New Year is a great time to start afresh. What better way than to ensure your tax affairs are in order for another year than completing your tax return. If you have yet to start, the clock is ticking, go to GOV.UK and start today.”
Those who miss the deadline could face an initial late filing penalty of £100. Customers who are unable to meet the tax return deadline need to tell HMRC before the 31st January deadline.
The penalties for late tax returns are:
- an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
- after 3 months, additional daily penalties of £10 per day, up to a maximum of £900
- after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
- after 12 months, another 5% or £300 charge, whichever is greater
There are also additional penalties for late payments of 5% of the tax unpaid at 30 days, 6 months and 12 months. If tax remains unpaid after the deadline, interest will also be charged on the amount owed, in addition to the penalties above.
