5.65 Million Yet to File as Self Assessment Deadline Approaches

The clock is ticking as the deadline for Self Assessment tax return submissions approaches. Currently, 5.65 million individuals have yet to file their tax returns for the 2024 to 2025 tax year. With the deadline set for January 31, 2026, taxpayers are urged to act promptly.

Recent Filing Statistics

During the New Year period, thousands took the initiative to file their tax returns. Here are some key statistics:

• 6.36 million taxpayers have already submitted their returns.
• 54,053 individuals filed their returns on New Year’s Eve and New Year’s Day.
• 342 customers filed in the last hour of 2025.
• 19,789 delayed New Year’s Day festivities to complete their returns.
• The most popular filing time on December 31 was between 11:00 and 11:59 AM with 3,927 filings.

Consequences of Missing the Deadline

Taxpayers who fail to file their returns by the end of January will incur penalties. The initial penalty is £100, applicable even for no tax due. Additional penalties include:

• £10 per day for late returns after three months, up to a maximum of £900.
• 5% of the tax due or £300 after six months, whichever is greater.
• Another 5% or £300 charge after twelve months, whichever is greater.

Late payments also incur penalties of 5% at 30 days, 6 months, and 12 months. Furthermore, if tax remains unpaid after the deadline, interest will accrue on the owed amount.

Support and Resources Available

To assist taxpayers, HMRC offers a wide range of online resources on GOV.UK. Customers can start their tax return process online, saving their work to return later. Once submitted, payments can be made through the HMRC app, which also allows users to set up notifications for payment deadlines.

Individuals facing challenges in meeting the deadline should notify HMRC before January 31. HMRC is committed to treating those with reasonable excuses fairly.

New Changes Ahead

In 2026, significant changes will affect sole traders and landlords reporting income above £50,000. These taxpayers will transition to Making Tax Digital (MTD) for Income Tax, requiring them to submit quarterly summaries of income and expenses.

Taxpayers who have sold assets like shares after October 30, 2024, should note changes in Capital Gains Tax rates. They may need to calculate adjustments on their tax returns rather than relying on automatic calculations.

Lastly, it’s essential for Self Assessment customers to protect their HMRC login credentials to avoid falling victim to scams. Additional scam prevention advice can be found on GOV.UK.

With millions yet to file, now is the perfect time to get tax affairs in order and avoid penalties as the Self Assessment deadline approaches.