HMRC is issuing a warning to customers still in need of completing and paying their self-assessment tax returns, as the deadline of January 31st looms closer. With less than a month left to go, Lanarkshire customers are urged to avoid penalties by meeting the deadline, as completing tax returns plays a crucial role in supporting public services and the government’s economic plans.
According to HMRC, over 24,800 people filed their tax returns on January 1st, with an additional 38,000 managing to do so before the stroke of midnight on December 31st. Filing online via GOV.UK is the recommended method, as missing the deadline could result in an initial late filing penalty of £100 for taxpayers required to file for the 2023 to 2024 tax year.
HMRC’s director general for customer services, Myrtle Lloyd, emphasised the importance of filing and paying on time to avoid penalties or interest charges. The online services provided by HMRC allow customers to save their progress and complete their tax return at their own pace. Additionally, payments can be securely made through the HMRC app, with notifications available to remind customers of payment deadlines.
For those unable to meet the January 31st deadline, HMRC will consider reasonable excuses if communicated in advance. Late tax return penalties can include an initial fixed penalty of £100, followed by daily penalties and additional charges if the deadline is not met.
Filing taxes on time is not only a legal obligation but also contributes to the smooth running of public services and the government’s financial plans. By meeting the deadline, customers can avoid unnecessary penalties and ensure compliance with tax regulations. It is essential for taxpayers to prioritise completing their self-assessment to avoid any last-minute rush or potential penalties.