Overview
- Taxpayers are being reminded to submit returns and pay by 11:59pm on 31 January 2026 to avoid penalties.
- Missing the deadline triggers a £100 fine, then £10 per day after three months up to £900, plus 5% or £300 at six and 12 months, with interest on unpaid tax.
- Newly self‑employed people may effectively owe last year’s bill plus a 50% advance for the current year in January, with another 50% due in July under payments on account.
- HMRC says payments on account can be adjusted if income drops and those unable to pay in full can arrange a Time to Pay plan, though interest continues to accrue.
- HMRC reported 4,600 returns filed on Christmas Day and 37,435 between Christmas Eve and Boxing Day, and it is promoting its app, the HICBC PAYE option and scam‑awareness guidance.