When is the Self Assessment Deadline 2025 – It's Not Too Late!

If you’re one of the millions of individuals who still haven’t filed your Self Assessment tax return for the 2023 to 2024 tax year, there’s still time. HM Revenue and Customs (HMRC) has confirmed that you have until 31 January 2025 to submit your return. Below, we’ll walk you through everything you need to know, from key dates and penalties to payment options and reasonable excuses.

1. Key Deadline

• 31 January 2025 is the final date to file your 2023–24 Self Assessment tax return online and pay any tax due.

Prompt submission helps avoid unnecessary stress, ensures you avoid automatic penalties, and potentially speeds up any refund you may be owed.

2. Penalties for Late Filing

Filing your return after the deadline can result in immediate and escalating penalties:

1. Initial £100 Penalty

   • This applies whether or not you owe any tax.

2. Daily Penalties After 3 Months

   • £10 per day, up to a total of £900 if your return remains unfiled 3 months past the deadline.

3. 6-Month Penalty

   • 5% of the tax due or £300 (whichever is greater).

4. 12-Month Penalty

   • Another 5% or £300 (whichever is greater).

The best way to avoid these charges is to file on time and pay any tax due by the deadline.

3. Penalties for Late Payment

If you delay paying the tax owed:

• Additional penalties of 5% of the unpaid tax may be charged.
• These penalties can compound over time, further increasing your tax bill.

Avoiding late payment charges is straightforward, ensure you pay what you owe by 31 January 2025.

4. Payment Options and Plans

HMRC offers multiple ways to pay your tax bill:

• Online Banking: Fast and straightforward, with HMRC’s bank details available on GOV.UK.
• Debit or Credit Card: You can pay online via the HMRC website.
• Payment Plan (Time to Pay): If you’re experiencing financial difficulties, you may be able to set up a payment plan to spread out your tax bill. Check GOV.UK for eligibility criteria and instructions.
• Including Bank Details in Your Return: This can speed up any repayments owed to you by HMRC.

5. Support and Guidance from HMRC

HMRC provides extensive resources to help you prepare and submit your tax return. Visit GOV.UK and search “Self Assessment” for:

• Step-by-step filing guides
• Information on allowable expenses
• Links to payment methods
• Contact details if you need additional help

6. Reasonable Excuses

HMRC understands that life can sometimes throw a curveball. If you believe you have a reasonable excuse for missing the filing or payment deadline, such as a serious illness, loss of key documents due to fire or flood, or sudden bereavement, explain the situation to HMRC. They may consider waiving penalties based on your circumstances.

Conclusion

The 31 January 2025 deadline is your last chance to file and pay any tax due for the 2023–24 tax year without incurring penalties. With HMRC providing helpful online resources, multiple payment options, and consideration for reasonable excuses, there’s plenty of support available.

Start your return now to avoid the rush and secure peace of mind. It’s not too late to file, take action today to steer clear of penalties and enjoy a smoother tax season.

Myrtle Lloyd, HMRC’s Director General for Customer Services, reminds everyone: “Time is running out for the millions still to file their Self Assessment tax return by 31 January. Help and support is available for those who have not yet started their return. Visit GOV.UK and search ‘Self Assessment’ to find out more.”