Self-assessment tax penalties can escalate quickly through late filing charges, late payment surcharges, and interest on outstanding balances. Staying organised, meeting deadlines, and seeking professional advice help you remain compliant and avoid unnecessary costs.
Filing early gives clarity, reduces stress, and improves cash flow. Preparing ahead puts you firmly in control of your tax position.
You must file a return when you have untaxed income or meet specific HMRC criteria, including self-employment or high earnings.
A final reminder that the 2023-24 tax return deadline for taxpayers who continue to submit paper self-assessment returns is 31 October 2024. Late submission of a self-assessment return will incur a £100 late filing penalty.
Utilize the coding out threshold for tax under £3,000, allowing monthly PAYE deductions. File early to benefit. HMRC automatically collects if conditions are met. Plan for the 2023-24 tax year by filing before 30 Dec 2024.
File your 2022-23 tax return by the October 31, 2023, deadline to avoid a £100 penalty. Consider e-filing for an extended deadline until January 31, 2024. Learn about managing underpayments and daily penalties.
Learn why a UK Self-Assessment is needed: self-employment, £100,000+ income, varied earnings. Notify HMRC by 5 Oct 2023. Use HMRC’s online tool for eligibility, covering investments, partnerships, and more.
A new press release from HMRC has revealed that more than 50,000 taxpayers have used the HMRC app to make Self-Assessment tax payments since February 2022. Payments can be made safely and securely through the app.
The 2021-22 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2022. Late submission of a Self-Assessment return will become liable to a £100 late filing penalty.
Fraudsters are continuing to target taxpayers with scam emails, texts and calls following the deadline for submission of Self-Assessment returns for 2020-21. In fact, over the last year, HMRC received more than 570,000 reports about suspicious HMRC
There are a number of reasons why a taxpayer needs to complete a Self-Assessment return.
Company directors who complete a self-assessment tax return should be aware of new mandatory reporting requirements that came into effect from the 2025-26 tax year. The changes mainly affect directors of close companies, including many owner-managed
Taxpayers who need to pay the High Income Child Benefit Charge (HICBC) for 2025-26 may be able to pay it through PAYE rather than completing a self-assessment tax return solely to report the charge.
The HICBC applies where an individual or their
Cryptoassets can create unexpected tax liabilities. HMRC’s guidance highlights several areas where mistake can be made.
Assuming crypto-to-crypto exchanges are tax-free. Exchanging one type of cryptoasset for another can count as a disposal for
Our Tax Diary November/December 2026 sets out key dates for Corporation Tax, VAT, PAYE, CIS, Self-Assessment and Companies House filings. It helps you plan ahead and avoid penalties.
A new self-assessment registration service launched by HMRC promises faster registration and quicker access to your UTR. Discover who must register by 5 October 2026, what the improved service offers, and the key deadlines for the 2025–26 tax year.
Discover how Tax relief on pension contributions for employees boosts retirement savings. Learn about automatic enrolment, net pay, relief at source, salary sacrifice and employer contributions.
Amending a mistake on your tax return is usually straightforward when you act quickly. Learn how to correct errors within 12 months, contact HMRC afterwards, and claim overpayment relief up to four years later.
Your essential Tax Diary September/October 2026 highlights every key Corporation Tax, PAYE, NIC, CIS and self-assessment deadline. Plan ahead, avoid penalties, and stay fully compliant with our clear, month-by-month guide.
Many UK taxpayers with overseas income pay more tax than they need to. Discover what counts as foreign income, when UK tax applies, how the April 2025 rule changes affect you, and how to claim relief against double taxation.
You may be able to claim tax relief when repairing or replacing small work tools, uniforms or specialist clothing. Discover what qualifies, how PPE differs, how to calculate your claim, and the time limits that apply, so you never miss out on money you are owed.
Once you have filed your self-assessment return, you must keep your supporting records safe. Learn how to store them, how long to keep personal and business records, and which documents matter most, so you stay ready for any HMRC review.
Could your savings generate a tax bill? Most savers benefit from the Personal Allowance, starting rate for savings and Personal Savings Allowance. However, higher earners and those with substantial interest may still owe tax. Review your position, adjust where needed, and reclaim any overpayments within four years.
Making Tax Digital: Are you ready for your first quarterly deadline? If you are registered for MTD for Income Tax, your first update is due by 7 August 2026. Submit totals for each business, keep digital records, and set up robust systems now to stay ahead of future penalty rules.