Clock ticking for those yet to file their tax return with potential penalties in place
HMRC has urged 5.7 million people to claim their taxes back before the deadline at the end of the month.
The government body has warned those who have not yet filed their tax returns to act quickly to claim what they are owed for the 2022-2023 year.
According to their statistics, there are 5.7 million people yet to file their tax return, with 6.5 million having already beaten the clock – 25,593 customers filed their tax return on New Year's Eve, with the most popular time being at 12pm.
A total of 127 people saw in the New Year by filing their tax return between midnight and 1am on January 1.
The deadline to file a tax return for the 2022 to 2023 tax year and pay any tax owed is January 31, 2024 – this can be done online by going to gov.uk and clicking 'self assessment'.
Myrtle Lloyd, director general for customer services at HMRC, said: "The clock is ticking for those customers yet to file their tax return. Don't put it off, kick start the new year by sorting your Self Assessment."
HMRC has resources online to help customers in completing their tax return.
Customers who are unable to pay in full can access support and advice on gov.uk
There is also help available for some people who need an affordable payment plan, known as Time to Pay, for those who owe less than £30,000. Customers can arrange this themselves online by going to gov.uk and searching "HMRC payment plan".
HMRC will consider reasons for not being able to meet the deadline. Anyone who is able to give a reasonable excuse may avoid a penalty.
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 five per cent of the tax due or £300, whichever is greater
After 12 months, another five per cent or £300 charge, whichever is greater
There are also additional penalties for paying late, and interest will also be charged on any tax paid late.
HMRC urges people to be scam aware and never share their HMRC login details with anyone, including a tax agent, if they have one. Advice on avoiding scams is available on gov.uk
