Two October self-assessment deadlines

tiemadmin • 19 September 2024

The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. Late submission of a self-assessment return will generate a £100 late filing penalty. The penalty usually applies even if there is no liability or if any tax due is paid in full by 31 January 2025.

Daily penalties of £10 per day will also take effect if the tax return is still outstanding three months after the filing date up to a maximum of £900. Additional higher penalties will be incurred if the return remains outstanding after six and twelve months.

We would recommend that anyone still submitting paper tax returns consider the benefits of submitting the returns electronically. This would allow for an additional three months until 31 January 2025 in which to submit a return.

In addition, you must inform HMRC by 5 October 2024 if you need to complete a tax return for the 2023-24 tax year and have not done so before. Failure to do so could result in a fine.

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