Just two weeks until self-assessment deadline date

Those who still need to file their self-assessment tax return are being reminded that there are just a couple of weeks left to do so.

While nearly 5,000 people chose to complete theirs over the festive period, there are still 5.65 million who need to ensure they file before the deadline date.

New Year’s filing

Figures show that many taxpayers decided to use the New Year to take some time out for administrative tasks, with thousands choosing to file during this period.

The figures show that on:

• New Year’s Eve, 3,927 people filed between 11:00 – 11:59 – the most popular time over those two days.
• In the last hour of 2025, 342 people filed their tax returns.
• New Year’s Day, 19,789 people completed their filing.

Deadline date looming

If you still need to file yours, you have until the 31^st of January to do so.

The penalties for late tax returns are:

• an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
• after 3 months, additional daily penalties of £10 per day, 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 charge, whichever is greater

Self-assessment payment plans

HMRC is urging anyone who is concerned about paying for their tax return to seek help sooner rather than later.

For those who do not have the funds to pay in full, there is the option to set up a payment plan to help spread the costs.

The Time to Pay arrangement can be set up online, and bills of up to £30,000 can be set up without even needing to contact HMRC.

However, this payment plan cannot be set up until a self-assessment tax return has been filed, so to avoid late payment penalties, it’s best to file as soon as possible.

To find out more about contracting, please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.