Avoid Missing the Tax Return Deadline: Key Information You Need

As the 2023/24 tax return deadline of 31 January 2025 approaches, it’s crucial to act promptly to avoid penalties. Whether you’re filing a personal, partnership, or trust return, ensuring your tax affairs are in order is essential. Here’s what you need to know and how we can help.

Understanding the Tax Return Deadline

The electronic submission deadline for all 2023/24 self-assessment returns is 31 January 2025. This applies if you’ve received a notice to file more than three months ago. Missing this deadline will result in a £100 late filing penalty, with further penalties accruing if the delay continues beyond three months.

In addition to filing, any tax owed must also be paid by 31 January 2025. Late payments will incur interest at 8.75% starting from 6 April 2025, so prompt action can save you money and stress.

Why Early Preparation Matters

Filing your tax return can be a complex process, and preparing a complete and accurate submission takes time. By providing your financial information to us early, you’ll allow us to ensure everything is in order before the tax return deadline. This reduces the risk of errors and gives you peace of mind.

If you’ve received a notice to file but are unsure whether you need to complete a return, we can help. Notices to file can be cancelled if the criteria for submission are not met, but this needs to be resolved promptly to avoid unnecessary complications.