HMRC Estimates 1.1 Million Taxpayers Missed Self-Assessment Deadline

HM Revenue and Customs (HMRC) has confirmed that over 11.5 million taxpayers successfully filed their self-assessment tax returns for the 2023/24 tax year by the 31 January 2025 deadline.

A total of 11,509,810 tax returns were submitted on time, a slight decrease from 11,581,962 the previous year. More than 97 per cent of returns were filed online, with 732,498 taxpayers submitting their returns on 31 January alone.

However, HMRC estimates that around 1.1 million taxpayers missed the deadline and is urging those who have yet to file to do so as soon as possible to avoid further penalties.

Penalties for Late Tax Returns

Failing to submit a self-assessment tax return on time can result in the following penalties:

• £100 fixed penalty – applies immediately, even if no tax is owed or if tax due is paid on time.
• After 3 months – £10 daily penalties, up to a maximum of £900.
• After 6 months – an additional penalty of 5% of the tax due or £300, whichever is greater.
• After 12 months – a further 5% penalty of the tax due or £300, whichever is greater.

Penalties for Late Tax Payments

In addition to penalties for late filing, if tax remains unpaid, further penalties apply:

• 5% of unpaid tax after 30 days.
• An additional 5% after six months.
• A further 5% after 12 months.
• Interest is also charged on any late payments.

HMRC continues to encourage taxpayers to file their returns and pay any outstanding tax as soon as possible to minimise additional charges.

This serves as a timely reminder for taxpayers to meet self-assessment deadlines and avoid unnecessary financial penalties.