HM Revenue and Customs has issued an urgent five-day warning to approximately 3.3 million taxpayers across the UK who have yet to file their Self Assessment tax returns for the 2024-25 financial year.
Imminent Deadline and Immediate Penalties
The critical deadline for submission falls on Saturday, January 31, 2026, leaving taxpayers with just one working week to complete their returns before facing financial penalties. HMRC has emphasised that this represents the final opportunity for individuals to avoid initial fines.
Escalating Penalty Structure
Taxpayers who miss the January 31 deadline will face an immediate £100 fixed penalty, which applies regardless of whether there is any tax liability or if payment is made promptly. This initial fine represents just the beginning of potential financial consequences for late filers.
The penalty structure escalates significantly over time:
- After three months: Additional daily penalties of £10 per day, accumulating to a maximum of £900
- After six months: A further penalty of 5% of the tax due or £300, whichever amount is greater
- After twelve months: Another 5% charge or £300, again whichever is greater
Official Guidance and Support Options
Myrtle Lloyd, HMRC's Chief Customer Officer, advised taxpayers: "Don't leave it until deadline day. Filing now will give you peace of mind that your tax return is completed and if you have tax to pay, you have a week to arrange payment."
Payment Assistance and Support Channels
For those concerned about meeting their tax obligations, HMRC offers several support options:
- Online payment plans can be arranged through GOV.UK by searching for 'difficulties paying HMRC'
- Telephone support remains available Monday to Friday, 8am to 6pm, until Friday, January 30
- On the deadline day itself (Saturday, January 31), webchat support will be accessible through HMRC's Online Services Helpdesk
HMRC has confirmed that their phone lines will close on Friday, January 30 and reopen on Monday, February 2, following the submission deadline. Taxpayers requiring full telephone assistance are therefore encouraged to contact HMRC before the end of Friday, January 30.
Proactive Approach Recommended
With the deadline rapidly approaching, HMRC strongly advises taxpayers to complete their Self Assessment returns promptly rather than risking last-minute technical issues or submission delays. Early completion allows individuals to review their calculations thoroughly and arrange any necessary payments without the pressure of impending penalties.
The revenue service has reminded taxpayers that the Self Assessment system covers various income sources including self-employment earnings, rental income, investment returns, and foreign income, making timely submission crucial for compliance with UK tax regulations.
