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When are the personal tax return deadlines?

| Duncan & Toplis | 26 October 2023

Self-assessment tax is determined by your income from the previous tax year rather than the calendar year.

The tax year spans from 6 April to 5 April, with the deadline for your tax return falling in the subsequent January.

For the 2022-23 tax return, the self-assessment deadlines are as follows:

  • 5 October 2023: The deadline to register for self-assessment if you're a first-time registrant.
  • 31 October 2023: The deadline for submitting a paper tax return.
  • 31 January 2024: The deadline for filing your tax return online.
  • 31 January 2024: The due date for paying the taxes you owe for the 2022-23 tax year, along with any outstanding taxes from 2021-22 if you had a payment arrangement with HMRC. If you make payments on account, you may have already contributed towards this amount.

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What are the tax rates for the 2022-2023 period?

You can check your tax rates here.

In what circumstances would I be required to file a tax return?

Self-employed individuals must annually submit a self-assessment tax return to fulfill their income tax and National Insurance obligations.

Additionally, individuals falling into the following categories are also required to complete a tax return:

  • Earned £100,000 or more as an employee or pensioner in the previous tax year.
  • Received £10,000 or more from savings interest or investment income. Please note that income from savings interest exceeding the personal savings allowance and dividend income exceeding £1,000 must be declared.
  • Accumulated £2,500 or more in untaxed income, such as tips or commission.
  • Need to claim tax relief on pension contributions as a higher or additional-rate taxpayer.
  • Owe capital gains tax due to the sale of profitable assets.
  • Receive child benefit if your or your partner's income exceeds £50,000.
  • Have taxable income from overseas sources or reside abroad but earn income in the UK.
  • Receive state pension payments that surpass your personal allowance, and this is your sole source of income.
  • Serve as a business partner or director of a limited company.
  • Act as a trustee of a registered pension scheme or another trust.
  • Serve as a trustee or representative for someone who has passed away.
  • Are a 'name' at the Lloyd's of London insurance market.
  • Are a minister of religion.
  • Have received a P800 form from HMRC indicating insufficient tax payment in the previous year, with the outstanding amount still pending.
  • In specific cases, you may be required to complete a self-assessment tax return and also make payments through PAYE. This applies, for instance, if you receive a private pension, generate taxable capital gains, or operate a business alongside your regular employment.

If you run a limited company, you must submit a company tax return in addition to a personal income tax return.

What are the financial penalties for late filing of a tax return?

Furthermore, if you fail to settle your tax by 31 January 2024, HMRC will charge interest calculated at the Bank of England's base rate plus an additional 2.5%.

Failing to meet the self-assessment return deadline carries financial consequences, as HMRC has the authority to impose progressively higher penalties if you miss the deadline, starting with a £100 fine from the first day your return is overdue.

The current penalties for submitting your self-assessment tax return after the due date are as outlined below:

  • If you're just one day late, an automatic fixed penalty of £100 is levied. This penalty applies even if you don't owe any taxes or have paid your tax liabilities on time. It comes into effect if you haven't filed by the 31st of January 2023.
  • Should your tax return be delayed by three months, you'll incur a charge of £10 per day, up to a maximum of £900 over 90 days.
  • If your tax return is six months overdue, the penalty increases to £300 or 5% of the tax you owe, whichever amount is higher.
  • For tax returns that are a full year late, the penalty remains at £300 or 5% of the tax due, with the higher of the two applying.
  • In cases where the withholding of information extends beyond 12 months and is deliberate or deliberately concealed, further escalated penalties may be imposed.

These penalties are cumulative. Consequently, the minimum penalty for a tax return delayed by 12 months or more can surpass £1,600, contingent on the tax liability.

What happens if I have missed the 31 October deadline to file a paper tax return?

The good news is that you can file your tax return online until 31 January 2024 for the 2022-2023 financial year, although you’ll need a Government Gateway account.

How do I create a Government Gateway account?

You can register online for a Government Gateway account. You can read the step-by-step process to do that here.

Can you help me file my digital tax return?

Of course. Please don’t hesitate to contact our personal tax team.


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