"Taxpayers submitting a paper Self Assessment return must do so by October 31. Although digital submissions are far more common, government figures show that 304,000 people still filed paper Self Assessment tax returns last year, compared with 11.2 million submitted online. Digital and paper submissions follow the same rules: anyone earning over £1,000 outside of PAYE in the last tax year must declare and pay tax on these earnings, with the digital deadline falling on January 31."
"Despite the introduction of Making Tax Digital (MTD) to enforce digital tax returns from April 2026, anyone completing a Self Assessment can still choose to submit a paper tax return this October for the 2024/25 tax year. In fact, the MTD changes from April 2026 will only initially apply to sole traders or landlords earning more than £50,000, before being phased in for those earning more than £30,000 from April 2027, and then more than £20,000 from April 2028."
Paper Self Assessment returns must be submitted by October 31, while online returns have a January 31 deadline. Around 304,000 paper returns were filed last year compared with 11.2 million online. Anyone earning more than £1,000 outside PAYE in the tax year must declare and pay tax on those earnings. Late paper filing incurs an immediate £100 penalty, followed after three months by daily fines of £10 up to £900 and higher penalties for longer delays. Making Tax Digital will phase in from April 2026 with thresholds of £50,000, £30,000 and £20,000 across 2026–2028. Paper filers should post early, check calculations manually and send returns by recorded delivery, retaining proof for at least 22 months.
Read at London Business News | Londonlovesbusiness.com
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