Self Assessment deadline: A guide to filing your tax return
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Posted: Wed 31st Jul 2024
A guide to what you need to know with resources to help you file your Self Assessment tax return and pay your tax bill.
When is the 2023-24 Self Assessment deadline?
The deadline for filing a paper 2023-24 Self Assessment tax return is 11.59pm on Thursday 31 October 2024.
The deadline for filing an online 2023-24 Self Assessment tax return is 11.59pm on Friday 31 January 2025.
What does the 2023-24 Self Assessment return cover?
The 2023-24 Self Assessment tax return covers income, earnings and payments between 6 April 2023 and 5 April 2024.
Who needs to file a Self Assessment tax return?
You must send a tax return if, in the last tax year (6 April to 5 April), you were:
self-employed as a 'sole trader' and earned more than £1,000 (before taking off anything you can claim tax relief on)
a partner in a business partnership
You may need to send a Self Assessment tax return if you have any other untaxed income from the 2022-23 tax year, such as:
money from renting out a property
tips and commission
income from savings, investments and dividends
foreign income
Check if you need to send a Self Assessment tax return
What are the penalties for late tax returns?
HMRC said it "will treat those with genuine excuses leniently" as it "focuses on those who persistently fail to complete their tax returns and deliberate tax evaders".
Customers who provide HMRC with a "reasonable excuse" before the 31 January deadline can avoid a penalty.
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 three months, additional daily penalties of £10 per day, 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 greater
There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, six months and 12 months.
HMRC's Time to Pay service allows any individual or business the option to spread tax payments over time. Self Assessment taxpayers with up to £30,000 of tax debt can do this online once they have filed their return.
If you owe more than £30,000, or need longer to pay, you should call the Self Assessment Payment Helpline on 0300 200 3822.
Find more details about Time to Pay
How do you file your Self Assessment tax return?
You can file your tax return online. In some circumstances, you cannot file your tax return online and must use commercial software or download forms instead. Learn more
How do you pay your Self Assessment tax bill?
Once your Self Assessment tax return has been filed, you can pay your tax bill in several ways.
Note that the time you need to allow for the payment to clear varies depending on how you pay. Remember that if HMRC has not received your payment by the 31 January deadline, it will be considered as late and you may face a penalty.
Same or next day
online or telephone banking (Faster Payments)
at your bank or building society
Three working days
Direct debit (if you've set one up with HMRC before)
Five working days
Direct debit (if you have not set one up with HMRC before)
What is payment on account?
Payments on account are advance tax payments that you need to make twice a year. The deadlines are midnight on 31 January and 31 July. Each payment represents half of your previous year’s tax bill.
Here’s an example provided by HMRC:
Your bill for the 2022 to 2023 tax year is £3,000. You made two payments of £900 each (£1,800 in total) on account towards this bill in 2023.
The total tax to pay by midnight on 31 January 2024 is £2,700. This includes:
your 'balancing payment' of £1,200 for the 2022 to 2023 tax year (£3,000 minus £1,800)
the first payment on account of £1,500 (half your 2022 to 2023 tax bill) towards your 2023 to 2024 tax bill
You then make a second payment on account of £1,500 on 31 July 2024.
If your tax bill for the 2023 to 2024 tax year is more than £3,000 (the total of your 2 payments on account), you'll need to make a 'balancing payment' by 31 January 2025.
Full government guidance for payments on account is here.
Advice for filing your Self Assessment tax return
Enterprise Nation members can book free calls with accountants
Find accountants offering Self Assessment tax return filing services
You can also call HMRC's Self Assessment helpline on 0300 200 3310.
HMRC warns that the helpline is usually extremely busy in January and business owners are encouraged to use online resources.
Relevant resources
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