"An estimated one million people failing to file could net HMRC £100 million in automatic fees. There is an automatic £100 fine for late filing."
"If you don't have an excuse to appeal a fine but still owe money, you might still be able to set up a payment plan to get back on track. It's essential you don't put your head in the sand."
"Thank you to the millions of people and agents who filed their self-assessment tax return and paid any tax owed by January 31. Anyone who missed the deadline should file their return as soon as possible, as penalties and late payment interest may be charged."
HM Revenue and Customs received 11,489,825 self-assessment returns by the January 31, 2026 deadline, including voluntary returns and late registrations. Around one million people failed to file by the deadline and now face an automatic £100 late-filing penalty that could net HMRC an estimated £100 million in automatic fees. Individuals who lack grounds to appeal a fine but still owe money may be able to arrange a payment plan to manage payments. HMRC thanked millions of filers and agents and urged anyone who missed the deadline to file promptly to avoid further penalties and interest.
Read at London Business News | Londonlovesbusiness.com
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