The Self-Assessment deadline is approaching, if you haven’t filed your return yet, it’s important to act now! If you are self-employed, a landlord, or receive income not fully taxed at source, this deadline is particularly important.
2024/25 Tax Year – What’s Coming Up
The 2024/25 tax year covers income earned between 6 April 2024 and 5 April 2025.
Upcoming Deadline
- 31 January 2026 – Final deadline to:
o Submit your online Self-Assessment tax return.
o Pay any tax owed for the 2024/25 tax year.
o Make your first payment on account for the 2025/26 tax year (if applicable)
- 31 July 2026 – Deadline to:
o Make your second payment on account for the 2025/26 tax year (if applicable)
If you send your tax return late
You’ll get the following late filing penalties:
- an initial £100 penalty
- 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
If you pay your tax late
You’ll get penalties of 5% of the tax unpaid at:
- 30 days
- 6 months
- 12 months
You’ll also be charged interest on the amount owed. To avoid this, pay your Self Assessment tax bill as soon as possible.
Looking Ahead: 2025/26 Tax Year Key Dates
The 2025/26 tax year runs from 6 April 2025 to 5 April 2026.
Deadlines for 2025/26 Tax Year
- 6 April 2026 – HMRC starts accepting online returns for 2025/26. You can complete your return at any time from this date until the deadline.
- 5 October 2026 – Deadline to register for Self-Assessment (if this is your first return)
- 31 October 2026 – Paper return deadline
- 31 January 2027 – Online filing and payment deadline
- 31 July 2027 – Second payment on account (if applicable)
Filing early allows time to correct errors and plan for your tax payment, rather than rushing in January.
Planning for Future Changes
From 6 April 2026 , Making Tax Digital (MTD) for Income Tax will apply to self-employed individuals and landlords with income above £50,000, requiring digital records and quarterly updates to HMRC. Thresholds are expected to reduce in later years, bringing more taxpayers into the system.
Stay tuned for our upcoming blogs, where we’ll share more updates on changes that may affect your Self-Assessment and helpful tips for staying prepared.
Tips for Staying on Track
- Start early : Avoid the last-minute stress and gives you time to review your return carefully for accuracy
- Set Reminders: Mark key dates on your calendar to ensure you never miss a deadline.
- Budget in Advance: Estimate your tax liability early and set aside funds to cover payments on account and any balancing payments.
- Use HMRC Services: HMRC’s online portal allows you to check your tax account, file your return, and make payments easily.
- Stay informed: Keeping up to date with changes to digital reporting requirements allows you to prepare early and avoid future complications.
If you haven’t started your Self-Assessment yet, now is the time to act.
✔ Avoid penalties and interest
✔ Know exactly what you owe
✔ Get support with complex income, expenses and payments on accounts
