HMRC has issued a warning to millions of people who are due to file a self-assessment tax return later this month.
The Government department said around 5.7 million people are due to file a tax return by January 31. Anyone who doesn't do so by this time risks being hit with a £100 penalty - even if they don't owe any tax.
Myrtle Lloyd, HMRC’s Director General for Customer Services, said: "There is less than one month for customers to submit their tax returns and my message to those yet to start is: don’t delay, do it online.
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"HMRC provides lots of useful information to help you get started. Visit GOV.UK and search ‘Self Assessment’."
HMRC is also reminding customers that the deadline to submit a paper return has passed and tax returns can only be submitted online.
Who needs to complete a tax return?
You must send a tax return if, in the last tax year (6 April to 5 April), any of the following applied:
- you were self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
- you were a partner in a business partnership
- you earned £100,000 or more
You may also need to send a tax return if you have any untaxed income, such as:
- some COVID-19 grant or support payments
- money from renting out a property
- tips and commission
- income from savings, investments and dividends
- foreign income
After the initial £100 penalty, people can expect to be charged a further £10 for every day their tax return is late.
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