Everything You Need to Know About the HMRC Deadline
If you’re a UK taxpayer, the HMRC deadline is the date you simply can’t miss. Miss it, and you risk late‑payment penalties, interest, and a lot of stress. Below we break down the most important dates, explain what you have to file, and give you practical tips to keep everything on track.
Key Dates You Should Mark on Your Calendar
HMRC sets different deadlines depending on your situation:
- Self‑Assessment tax return: Usually due by 31 January for the previous tax year (April 1 – March 31). If you file online, you get an extra day – 31 January.
- Payments on account: Two instalments are due on 31 January and 31 July. They cover your estimated tax for the current year.
- Corporation tax: Must be paid 9 months and 1 day after the company’s accounting period ends.
- VAT returns: Usually every quarter; the deadline is one month and 7 days after the end of the VAT period.
Set reminders a week before each date – you’ll thank yourself when the panic hits.
How to Prepare Your Return Quickly and Correctly
Preparation is the biggest time‑saver. Start gathering documents at least a month ahead. Here’s a quick checklist:
- Form P60 from your employer (shows tax deducted).
- Any P45s if you changed jobs during the year.
- Bank statements and dividend vouchers for interest and investment income.
- Receipts for allowable expenses – home‑office costs, mileage, and professional fees.
- Details of any capital gains – property, shares, or crypto.
Put everything into a spreadsheet or use HMRC’s online service. The system will calculate your tax automatically, reducing manual errors.
Don’t forget to claim tax reliefs you’re eligible for – marriage allowance, pension contributions, and charitable donations can shrink your bill dramatically.
Avoid Common Mistakes That Trigger Penalties
Even small slip‑ups can cost you. Here are the top pitfalls:
- Late filing: A £100 penalty kicks in after 3 months, then rises to £300 after 6 months, and up to 10% of the tax due after 12 months.
- Incorrect figures: HMRC may adjust your return and add interest on the shortfall.
- Missing payments on account: You’ll be charged interest on the overdue amount, plus a possible penalty.
- Not registering for Self‑Assessment: If you should have filed but didn’t register, you’ll face a “failure to notify” penalty.
Double‑check numbers, use the HMRC calculator, and if you’re unsure, call their helpline before the deadline.
What to Do If You Miss the Deadline
It’s never too late to act. Contact HMRC as soon as you realise you’re late – they often accept an explanation and may reduce penalties if you show genuine effort. Pay any outstanding tax right away to stop interest from building up.
Consider setting up a direct debit for future payments. Once it’s linked, HMRC will pull the amount on the due date, removing the chance of a missed deadline.
Staying on top of HMRC deadlines doesn’t have to be stressful. With a calendar reminder, a solid document collection routine, and a quick double‑check before you hit “submit,” you’ll keep the taxman happy and your pockets intact.
Kieran Lockhart, Feb, 1 2025
On January 31, 2025, Barclays Bank was hit by a severe IT outage, affecting thousands of customers trying to conduct online banking during a crucial period. The disruption coincided with the HMRC tax deadline, raising panic among self-employed individuals due to potential penalty risks. Barclays apologized and worked on resolving the problem, advising customers to refrain from retrying transactions.
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