Are you are one of the 5.4 million UK tax payers still to file your tax return?

The deadline for filing your self-assessment tax return is fast approaching. In order to avoid an automatic penalty your tax return must be filed by 31 January 2020. Our team of tax experts are ready to help. Contact us for further information.

For the tax year ending 5 April 2019 H M Revenue & Customs have issued a total of 11,718,339 tax return demands. As of 31 December 2019 6,293,550 tax returns had been filed leaving 5,424,789 (46%) still to be filed by the end of January 2020.

The penalties for submitting your tax return late are:

  • An initial £100 fixed penalty,
  • After 3 months, additional daily penalties of £10 per day may be charged, up to a maximum of £900,
  • After 6 months, a further penalty of 5% of the tax due or £300, whichever is greater;
  • After 12 months, another 5% or £300, whichever is greater.