HMRC warning to 3m taxpayers facing £100 fine | Personal Finance | Finance
HM Revenue and Customs (HMRC) has issued an urgent warning to millions of taxpayers, with more than three million people still yet to submit their self-assessment tax returns ahead of Saturday’s deadline.
The tax authority said 3.3 million people have not yet filed returns for the 2024–25 tax year, leaving them at risk of an automatic £100 fine if they miss the cut-off. So far, 8.6 million taxpayers have already completed and submitted their paperwork. HMRC is urging those who are yet to file to act immediately, warning that penalties apply even if there is no tax to pay or if the tax owed is settled on time.
Anyone who misses the deadline will be hit with a £100 fixed penalty straight away. If the return remains outstanding after three months, additional daily fines of £10 can be charged, building up to a maximum of £900, Sky News reports.
After six months, taxpayers face a further penalty of either £300 or 5% of the tax due, whichever is higher, with another charge of the same amount applied after 12 months.
The warning comes amid growing concern over unpaid tax across the UK. Figures from national accounting firm UHY Hacker Young show that HMRC issued £325 million in fines and interest to people who paid their self-assessment bills late last year.
At least 600,000 taxpayers failed to pay their self-assessment tax by the deadline, according to the firm.
HMRC estimates that £8.7 billion of self-assessment tax went unpaid last year, accounting for 12.5% of the £69.6 billion it expected to collect. In total, around £44 billion in business and personal taxes are overdue, with £37.8 billion, roughly 86%, now considered ready for debt collection action.
HMRC has stressed that taxpayers should still submit their returns on time even if they cannot pay in full, as missing the deadline can quickly lead to escalating penalties and enforcement action.
With only days remaining, officials say filing now is the best way to avoid an automatic fine and further costs.
