Have you missed the 31st January Self Assessment deadline?

If so, fear not, all is not lost! However you need to act fast to avoid further fines.

For missing the self assessment deadline you will have already been hit with a £100 fine. Further fines will be levied if you are more than 30 days late so if you file your return by the end of this month you will avoid further penalties.

Leave it until after this then HMRC will levy a penalty of 5% of the tax due. Leave it until 3 months late then a further penalty of £10 per day is charged.

In addition to this, HMRC will also be charging you interest on the amount of tax owed so get your return completed ASAP to save some money.


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