HM Revenue and Customs (HMRC) has issued an urgent warning to UK households, advising them to "take action immediately" to avoid potential punishment. This alert specifically targets individuals who missed the Self Assessment deadline on January 31, putting them at risk of penalties from the tax authority.
Immediate Steps Required for Late Filers
In a recent social media post on X, formerly known as Twitter, HMRC communicated directly with taxpayers, stating: "Missed the Self Assessment deadline? No need to call. Take action immediately to file your return online and pay any tax owed." This clear directive emphasises the importance of prompt compliance to minimise consequences.
Who Needs to File a Self Assessment Return?
The requirement extends beyond those who are self-employed. Individuals must also complete a tax return if they receive income from sources such as property rentals, even if they are not traditionally self-employed. The online filing system remains accessible throughout the year, starting from April 6 following the conclusion of the tax period.
Penalties for Missing Deadlines
Failing to submit your tax return by the specified deadline will result in automatic penalties. HMRC stresses that timely submission is crucial to avoid these financial sanctions, which can accumulate over time.
Navigating the Online Filing Process
The digital service offered by HMRC provides multiple functionalities. Taxpayers can utilise it to review previous returns, verify personal details, check outstanding balances, print tax calculations, and opt for paperless notifications. However, first-time filers must complete an additional step.
Registration Requirements for New Users
Individuals filing for the first time must register for Self Assessment before accessing the online service. HMRC's website outlines the registration process, which involves informing the authority of your need to complete a tax return. Those who have registered previously should check whether they need to reactivate their account, as filing without doing so may cause delays.
Essential Information for Submission
To use the service, you will need to sign in with your credentials. If you do not have existing sign-in details, you can create them during the process. Additionally, having your Unique Taxpayer Reference (UTR) number is mandatory. The system allows flexibility, enabling users to save their progress and return to complete the return at a later time if necessary.
This comprehensive approach by HMRC aims to facilitate compliance and reduce the administrative burden on taxpayers, while ensuring that all obligations are met to avoid punitive measures.
