Four million still to file ahead of self assessment deadline

A third of taxpayers are yet to submit their completed self assessment tax return and pay any tax owed ahead of the deadline on 31 January, HMRC has warned

More than 12.2 million customers are expected to complete a tax return for the 2020/21 tax year.

HMRC is urging the four million taxpayers still to file their tax return, pay any outstanding liabilities or set up a payment plan, to do so ahead of the deadline as 5% interest will be applied to all outstanding balances from 1 February.

However, earlier this month, HMRC announced they would waive penalties for one month for late filing of tax returns and late payments. The changes mean:

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