Countdown to Self Assessment deadline

Industry News - 8th November 2023

There are now less than 100 days to file your 2022-23 Self Assessment tax return online. The deadline is 31 January 2024. The deadline for paper returns ended on 31 October 2023.

You should also be aware that payment of any tax due should also be made by 31 January 2024. This includes the payment of any balance of Self Assessment liability for 2022-23, plus the first payment on account due for the current 2023-24 tax year.

If you miss the filing deadline you will usually be charged a £100 fixed penalty. If your return is up to three months late, regardless of whether you owed tax or not, and if you do not file and pay before 1 May 2024, then you will face further penalties unless you have arranged to pay with HMRC.

HMRC is encouraging taxpayers to complete their tax return as early as possible. Those who submit their returns early still have until 31 January 2024 to pay any tax due.

If you are filing online for the first time, you should ensure you register to use HMRC’s Self Assessment online service as soon as possible. Once registered, an activation code will be sent by mail. This process can take up to 10 working days. 

Contact us for more information on Self-Assessment.

Internet link: GOV.UK

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