The self-assessment deadline for 2023/24 tax returns will soon be upon us. It is important to know when your information needs to be submitted.
When is the Self-Assessment Deadline?
The deadline for the online submission of self-assessments is 31st January following the tax year. For 2023/24 returns, the deadline is 31st January 2025. This is also the payment deadline. You must ensure the tax return is submitted and paid before midnight to avoid penalties.
How Do I Know to Complete a Self-Assessment?
If you have previously completed a self-assessment, HMRC will notify you if a return is needed for that tax year. If you have met the criteria to complete a self-assessment for the first time, you will need to notify HMRC.
How do I Submit a Self-Assessment?
You can submit self-assessments through the HMRC portal. You will need our Unique Taxpayer Reference (UTR), which you will have received after registering for self-assessment.
If you are working with an accountant, they can submit the return on your behalf. We offer self-assessment services to clients across the UK. You can visit our page to learn more.
How Do I Pay my Self-Assessment Tax?
You can pay your self-assessment tax in a variety of ways. HMRC provide a breakdown of the available methods here.
Some additional methods include paying via your tax code if you are on a payroll, or setting up a payment plan with HMRC.
Most individuals will make two payments a year, known as payments on account.
Is there a Fine for Missing the Deadline?
If you miss the deadline HMRC will issue penalties. Penalties are split into two types: late filing & late payment.
These penalties will increase over time. Submit and pay before the deadline to avoid additional charges.
I Need Help Preparing my Self-Assessment – Who Can I Talk to?
We understand that self-assessments are an additional task on top of your workload, and that it can be difficult to know what you can claim. If you need assistance to complete your self-assessment tax return, please contact us.
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