UK Tax Deadline Nears: 5.65 Million Returns Due

With less than a month remaining until the January 31 deadline, nearly 5.65 million UK taxpayers must complete their self-assessment tax returns for the 2024-25 tax year, according to HM Revenue and Customs figures. The tax authority anticipates more than 12 million filings overall, primarily from self-employed individuals and those with untaxed income such as rental earnings or capital gains. Failure to submit by the deadline or pay any owed tax will trigger an initial penalty of 100 pounds, even if no tax is due or if payments are made on time.

HMRC reported that over 6.36 million returns have already been submitted as of early January. A surge in last-minute activity occurred over the New Year period, with 54,053 people filing on December 31 and January 1. Notably, 3,927 submissions came between 11 a.m. and noon on New Year's Eve, the busiest hour of those days, while 342 individuals completed theirs in the final hour of 2025.

Taxpayers who need to file include the self-employed, those with income exceeding 1,000 pounds from side jobs or property, and individuals claiming certain tax reliefs. The process requires reporting total income and calculating liabilities, after which...