When is the Self Assessment Tax Deadline?

PHS Team

09 Jan, 2025

Self assessment tax return, knowing the deadlines is very important. The main deadline for submitting your online tax return is January 31st, which marks the end of the tax year for many individuals and businesses. Missing this deadline can result in penalties and extra charges, so it's important to stay organised.

To begin the process, you’ll need to self assessment tax return login to your HMRC account. This will allow you to submit your return and manage your tax information online. Being aware of when to file your self assessment tax return helps you avoid last-minute stress and ensures you meet all requirements set by HMRC.

In this blog, we will discuss key deadlines, the consequences of missing them, and tips to help you stay on track. Understanding these dates will make handling your self assessment much easier.

When is the Self Assessment Deadline?

The self assessment tax return deadline is a date for anyone required to file a tax return in the UK. For most taxpayers, the deadline for submitting your self assessment form online is January 31st following the end of the tax year on April 5th. For example, for the tax year ending on April 5, 2024, you must submit your online return by January 31, 2025.

If you prefer to submit a paper tax return, the deadline is earlier, October 31st of the same year. This means that if you are filing a paper self assessment form for the 2023-2024 tax year, it must be submitted by October 31, 2024.

In addition to these submission deadlines, it’s important to remember that any tax owed must also be paid by January 31st. If you miss these deadlines, you may face penalties and interest charges from HMRC.

To avoid any last-minute rush or complications, it’s good to start preparing your self assessment tax return log in well in advance. Keeping track of these dates will help ensure that you meet your responsibilities and avoid unnecessary stress as the deadlines approach.

Important dates of Self Assessment deadline

Self Assessment Tax Return Login

1. Understanding Self Assessment Login:

   • The self assessment tax return login is important for managing your tax affairs online with HMRC. 

2. Creating an HMRC Online Account:

   • To access the self assessment services, you first need to create an HMRC online account. Visit the HMRC website and follow the registration instructions. 

3. Logging In:

   • Once registered, the Self Assessment Tax Return Login is straightforward. Go to the HMRC website and enter your user ID and password. You may also need additional security information, such as a code sent to your mobile.

4. Accessing Self Assessment Services:

   • After logging in, you can complete and submit your self assessment tax return, check your payment history, and update personal details.

5. Troubleshooting Login Issues:

   • If you encounter problems logging in, HMRC provides support options to help you regain access to your account.

Payment Deadlines for Taxes Owed

1. Overview of Payment on Account:
   • If you owe tax for the previous tax year, you may be required to make advance payments known as "payments on account."
   • These payments are typically due in two instalments:
     • The first instalment is due by January 31st.
     • The second instalment is due by July 31st of the following tax year.
   • Each instalment is half of your previous year's tax bill, helping to spread your tax payments throughout the year.
2. Importance of Timely Payments:
   • Making timely payments is important to avoid penalties and interest charges from HMRC.
   • If you miss a payment deadline, you may incur an immediate penalty of 5% of the amount owed, plus additional interest on any late payments.
   • Staying on top of your payment deadlines helps you avoid extra costs and ensures compliance with tax regulations.
   • Timely payments also contribute to better financial planning, allowing you to manage your cash flow effectively.
   • By being proactive about your tax responsibility, you can minimise stress and focus on other important aspects of your finances.

Consequences of Missing the Self Assessment Deadline

1. Fixed Penalty: £100 penalty for tax returns submitted up to three months late.
2. Daily Penalties: £10 per day for up to 90 days (after three months late), totalling up to £1,000.
3. Additional Penalties: Further penalties apply if the return is more than six months late, based on the tax owed.
4. Interest Charges: Interest accrues on any unpaid tax from the original due date until full payment is made.

Special Circumstances Affecting Deadlines

1. Different Deadlines for Specific Cases:
   • Certain taxpayers may have different deadlines based on their unique situations. For example, if you are a partner in a partnership, your tax return may be due later than the standard deadlines. 
   • Additionally, if you are filing for a trust or estate, specific rules apply that could change your submission dates. 
2. Provisional Figures and Their Implications:
   • In some cases, you may need to submit your self assessment tax return using provisional figures if you don’t have all the necessary information by the deadline. 
   • While using provisional figures allows you to meet the deadline, it’s important to update your return with accurate figures as soon as possible. Failing to do so can lead to penalties or interest charges from HMRC. Always keep HMRC informed of any changes to avoid complications with your tax responsibility.

Tips for Staying Organised and Meeting Deadlines

1. Organise Financial Records:
   • Keep income statements, receipts, and bank statements in one place.
   • Update records regularly for accuracy.
2. Set Reminders:
   • Use calendar apps to alert you of key deadlines.
   • Set reminders a month and a week before each deadline.
3. Utilise Resources:
   • HMRC’s online tools and app help manage tax efficiently.
   • Use calculators to estimate tax liabilities.

Resources and Tools for Assistance

1. HMRC Contact Information:
   • If you have questions or need assistance with your self assessment tax return, you can contact HMRC through various channels. Visit the official HMRC website for contact details, including phone numbers, online forms, and webchat options. 
2. Useful Online Tools and Apps:
   • The HMRC app is a valuable resource for managing your tax affairs. It allows you to check your tax code, view your self assessment tax return details, and claim any tax refunds you may be owed. 
   • The app is secure, free to download, and easy to use, making it convenient to stay on top of your finances.

How PHS associates help you

PHS Accountants simplify the self assessment tax return process for small business owners, freelancers, and landlords. From registration to submission, we provide personalised support that helps you navigate complex tax laws effortlessly. With our expertise, we ensure that your self assessment tax returns are filed on time, allowing you to focus on running your business while we handle your tax responsibilities.

We offer ongoing guidance on minimising your tax liability, helping you make informed business and investment decisions. Contact us by phone at 0208 8611685 or by email at info@phs-uk.co.ukn if you need accountants to file self-assessment tax returns.