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BUSINESS NEWS

More than one million people missed tax return deadline

More than one million people missed tax return deadline
Dan Martin
Dan MartinDan Martin Content & Events

Posted: Tue 4th Feb 2025

An estimated 1.1 million people failed to meet the deadline for filing their Self Assessment tax return, according to official figures.

HM Revenue & Customs (HMRC) said 12,026,540 returns were expected, and 10,887,810 were submitted by 31 January, the deadline day.

In total, 11,509,810 returns were sent on time, which also included voluntary returns and late registrations.

A total of 732,498 people submitted their details on 31 January, with 31,442 leaving it until the last minute and filing between 11pm and 11.59pm.

Those who missed the cut-off for filing a tax return face a £100 penalty, unless they have a valid excuse. The additional penalties are:

  • Daily penalties of £10 per day, up to a maximum of £900, after three months

  • 5% of the tax due or £300, whichever is greater, after six months

  • Another 5% or £300 charge, whichever is greater, after 12 months

There are also penalties for paying tax late. They are 5% of the tax unpaid after 30 days, six months and 12 months. Interest is also charged on any tax paid late.

Myrtle Lloyd, HMRC's director general for customer services, said:

"Thank you to the millions of people and agents who filed their Self Assessment tax return and paid any tax owed by 31 January.

"I'm urging anyone who missed the deadline, to submit their return as soon as possible to avoid any further penalties. Search 'Self Assessment' on GOV.UK to find out more."

Dan Martin
Dan MartinDan Martin Content & Events
I'm a freelance content creator and event host who helps small businesses and the organisations that support them. I'm also Enterprise Nation's Local Leader for Bristol. I have 20 years of experience as a small business journalist having interviewed hundreds of entrepreneurs from famous names like Sir Richard Branson and Deborah Meaden to the founders behind brand new start-ups. I've worked for a range of leading small business publications and support groups, most recently as head of content at Enterprise Nation where I was responsible for the prolific output of content on the company's blog and social media. I now freelance for Enterprise Nation as the website's news reporter and as the host of the Small Business sessions podcast. I'm based in Bristol where I run and host regular events with the local small business community in my role as Enterprise Nation's Local Leader for Bristol. I also have strong connections with other major business organisations in the south west region. In total, I've hosted over 100 events including conferences with an audience of hundreds for international brands like Xero and Facebook and live web chats from inside 10 Downing Street. With my partner, I co-run Lifestyle District, a lifestyle blog focused on culture, art, theatre and photography.

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