There will be lots of people across the UK who need to submit this information
As of the first quarter of 2025, approximately 4.4 million people in the UK were self-employed, making up about 13.5% of the workforce, according to Statista. For those who have just started their own business or begun working for themselves, it can be daunting to keep up with all the relevant paperwork.
But HM Revenue and Customs (HMRC) has issued a reminder to all about an upcoming date that shouldn’t be missed. In a post on X, a spokesperson for the government department said that those affected will need to act now as the deadline is “fast approaching”.
They put: “The deadline for those new to Self Assessment to register is fast approaching. You may need to register if you’re self-employed, a landlord or a partner in a business partnership.”
Self Assessment is a system that HMRC uses to collect income tax. For those who are employed by a company and earn a salary or pension, this is usually deducted automatically from your paycheck.
However, those in one of the three groups above must declare and report their income via a tax return form. HMRC offered the public a free online tool to check if they owe.
The deadline to declare your tax return is coming up in a matter of days. People who are self-employed or run their own businesses must complete a tax return for the previous year by October 5. Failing to do this could result in serious punishment.
If you register after October 5 and do not pay all of your tax bill by January 31, you may get a ‘failure to notify’ penalty. This penalty is based on the amount still left to pay, and you’ll receive it within 12 months after HMRC receives your Self Assessment tax return.
If there are any special circumstances that you believe the officer dealing with the check should take into consideration when working out the penalty, you should let them know straightaway.
Sending your final tax return late may lead to the following penalties:
- an initial £100 penalty
- after 3 months, additional daily penalties of £10 per day, up to a maximum of £900
- after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
- after 12 months, another 5% or £300 charge, whichever is greater
If you are struggling with any aspect of the Self Assessment, you can appoint someone to fill in and send your tax return for you. This can be a professional, like an accountant, or it could be someone else you trust – like a friend or family member.
Alternatively, you can reach out to HMRC directly for general Self Assessment help. People can call the support line on 0300 200 3310 or speak to someone via the HMRC online chat function.