Taxpayers face just hours to file their self-assessment returns before Saturday's midnight deadline, with around two million people still expected to submit. Missing the cutoff triggers an automatic £100 penalty, with further fines escalating rapidly for continued non-compliance.
More than 10 million returns for the 2024-25 tax year have already been filed as of Thursday. HM Revenue and Customs expects to process over 12 million self-assessments in total, making this weekend critical for the remaining filers.
HMRC has ramped up its support services to handle the deadline-day rush. The revenue body's webchat capacity on Saturday will run at 10 times its usual weekend level, while phone lines remain open from 9am to 4pm.
Mounting penalties
The financial consequences of missing the deadline intensify quickly. After the initial £100 fixed penalty, taxpayers face £10 daily charges starting three months after the deadline, capped at £900.
Six months late brings an additional penalty of 5% of the tax due or £300, whichever is greater. The same charge applies again at the 12-month mark. Late payments incur separate 5% penalties at 30 days, six months, and 12 months.
Support and payment options
An HMRC spokesperson said: «We encourage customers needing support to use our fast and easy digital and online services, and the majority already do. Should they still require help on deadline day, our telephone and webchat services will be available to provide additional support.»
The revenue body offers a 24/7 digital assistant and guidance at gov.uk. Taxpayers struggling to pay by January 31 can arrange a "time to pay" plan if they owe less than £30,000 and meet specific criteria.
HMRC will consider individual circumstances that may constitute reasonable excuses for missing the deadline, potentially waiving penalties. Earlier this month, the organization apologized after technical issues temporarily disrupted its helplines.
Taxpayers should remain vigilant against scams, as criminals often impersonate HMRC with threats about unpaid bills or fraudulent rebate offers. Contact details for genuine HMRC services are available at www.gov.uk/find-hmrc-contacts/self-assessment-general-enquiries.
Note: This article was created with Artificial Intelligence (AI).
