What should I do if I missed the self-assessment deadline?

The 31 January deadline for filing your self-assessment tax return has been and gone.

But according to HM Revenue and Customs (HMRC), about 1.1m people missed the deadline.

So what can you do if you’re one of them?

Don’t delay

HMRC has urged anyone who has missed the deadline to file their tax return straight away and pay any tax owed. 

This, it said, can be done quickly through the free and secure HMRC app.

If you can’t pay your tax bill in full, then Time to Pay arrangements are available.

What are the penalties for late filing?

The penalties for filing a tax return late are:

• £100, even if you don’t have any tax to pay or if you pay the tax due on time
• additional daily penalties of £10 a day after three months, up to a maximum of £900
• after six 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 higher

Can I appeal a fine?

If you’re fined, you can challenge it using an appeal form or by writing to HMRC.

But appeals won’t be considered until your tax return has been submitted and payment has been made.

What are the penalties for paying late?

If you pay your tax late, you can be fined 5% of the tax unpaid at 30 days, 6 months and 12 months. 

You’ll also have to pay interest on any tax paid late.

How many people filed their tax return on time?

According to HMRC, more than 11.5m people had filed their self-assessment tax return by midnight on 31 January.

More than 97% of these tax returns were filed online.

Many left it late though, with 732,498 being handed in on deadline day itself.

And more than 31,442 of these people left it until between 23:00 and 23:59 on 31 January to file their tax return.

Myrtle Lloyd, director general for customer services at HMRC, 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.”