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Charged interest
- The deadline for paying any outstanding tax is 31 January after the end of the tax year (unless you're paying through PAYE). If you miss this deadline, you'll be charged interest from the date the payment was due, currently, this is 7.5%.
www.which.co.uk/money/tax/income-tax/self-assessment-tax-return/late-tax-returns-and-penalties-for-mistakes-aM1Ts5k5gj1u
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Dec 28, 2022 · If you miss the 31 January 2023 deadline, you will be charged a £100 penalty - even if there's no tax to pay. Further penalties of £10 a day are then applied after three months, up to a maximum of £900.
You need to pay the tax you owe by midnight 31 January 2025. There’s usually a second payment deadline of 31 July if you make advance payments towards your bill (known as ‘payments on account’).
Jan 30, 2024 · If you miss the 31 January 2024 deadline to file your return, you will be charged a £100 penalty – even if there's no tax to pay. Further penalties of £10 a day are then applied after three months, up to a maximum of £900.
- Petar Lekarski
- Assistant Editor-News & Investigations
You’ll get a penalty if you need to send a tax return and you miss the deadline for submitting it or paying your bill. You’ll pay a late filing penalty of £100 if your tax return is up to 3...
Feb 2, 2024 · If you missed the deadline of midnight on 31 January, then you'll likely be slapped with a £100 fine. After that, you'll face the following penalties: Up to three months late: £10 each day, capped at 90 days (plus initial £100 fine)
Jan 18, 2022 · Despite the one-month penalty waiver, the 31 January deadline for self assessment filing and payment is unchanged. This means that interest applies to payments not made by 31 January and the period for HMRC to enquire into returns is extended for returns filed after that date.
Feb 2, 2024 · What to do if you missed the 31 January deadline. Be aware of the penalties. Get in touch with HMRC now. More on HMRC waiving penalties. What you need to do now to submit your tax return. Additional tax return tips. How an accountant can help with Self Assessment. Final thoughts.