Self Assessment Tax Returns

Self-Assessment is the system used by HMRC to collect tax from individuals and unincorporated businesses who receive income where tax is not automatically deducted at source by the payer.  

What is the penalty for missing a self-assessment tax return deadline?

If you are late filing your tax returns you are automatically charged a penalty fine of £100.

The additional penalty charges that can be charged are - 

• Over three months late - £10 daily penalty up to a maximum of £900
• Over six months late - an additional £00 or 5% of the tax due if higher
• Over twelve months late - further £300 or 5% of the tax due if higher

When are the self-assessment tax return deadlines for the 20/21 tax year?

Register for Self Assessment if you're self-employed or a sole trader, not self-employed or registering a partner or partnership - 5 October 2021

Paper tax returns - Midnight 31 October 2021

Online tax returns - Midnight 31 January 2022

Pay the tax you owe - Midnight 31 January 2022

A list of other important tax dates can be found here.