HMRC preparing to send out £100 fines to people who paid 'one day late'

Taxpayers who submit self-assessment tax forms after February 1 HMRC has stipulated. If you miss the deadline to file your self-assessment tax return, HMRC could automatically charge you £100, it has been confirmed by the taxman. HMRC must have received your tax return by 31 October 2024 for paper forms, and by midnight on 31 January 2025 for online returns.

For 2020-21 tax returns, HMRC waived any late filing charges until midnight on 28 February 2022. But if you missed this deadline, the charges applied as usual. Ordinarily, if you're more than a day late, the potential fines only get worse.



You may be charged £100 if your tax return is just a day after the deadline, HMRC has stipulated. READ MORE Met Office says 'severe' weather shift will start in England from tomorrow After three months, you're charged £10 for each additional day (capped at 90 days), plus the £100 initial fine - to a maximum of £1,000. Either £300 or 5% of the tax due (whichever is higher), on top of the penalties above.

An additional £300 fine, or 5% of the tax due, plus the above penalties. In the most serious cases, you may be fined 100% of the tax due. If you're part of a business partnership, note that all partners can be charged a penalty if a partnership tax return is filed late.

And in addition to getting fined for filing your tax return after the deadline, you could also face charges for failing to pay your tax bill on time. The deadline for paying any outstanding tax is 31 January after the end of the tax year (unless you're paying through PAYE), HMRC syas. If you miss this deadline, you'll be charged interest from the date the payment was due, currently, this is 7.

5%. You can also check the current rate payable on HMRC's website..