Tax & admin · 24 January 2018

HMRC issues penalties warning for submitting late tax returns

An automatic 100 fine is issued as soon as the deadline passes
A third of self-assessment tax payers are yet to submit their yearly return to HMRC, as the tax office hands a last-minute warning ahead of the 31 January deadline.

Around eight million people have already filed self-assessment tax returns for the 2016/17 tax year, according to HMRC.

With just seven days to for the remaining three million self-employed and sole traders to submit their returns, HMRC has reminded tax payers that the hard deadline for paying any tax owed is 31 January and reiterated that penalties for late filings escalate over time.

Register for and file your self-assessment tax return online with HMRC

Anybody missing the deadline will automatically receive a 100 fine. Crucially, even if no tax is owed, failure to submit a tax return will still result in a penalty.

Penalties for late tax returns

  • A fixed 100 fine for all submissions after deadline
  • After three months, additional daily penalties of 10 per day, up to a maximum 900
  • After six months, a further penalty of five per cent of the tax due, or 300 (whichever is greater)
  • After 12 months, another five per cent or 300 charge (whichever is greater)
  • Additional penalties for paying late of five per cent of the tax unpaid at 30 days, six months and 12 months


Five last-minute tax tips to beat the self-assessment deadline



Praseeda Nair is an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.

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