HMRC Warns of Tax Return Deadline Penalties

As the January 31 self-assessment tax deadline approaches, HM Revenue and Customs (HMRC) is warning taxpayers in the UK of potential penalties for late submissions. More than 7.4 million individuals have already filed their returns, but many others risk incurring a £100 penalty simply for missing the deadline, regardless of whether tax is owed. HMRC emphasizes the importance of timely filing to avoid escalating fines and offers various support resources for those unfamiliar with the self-assessment process. For individuals with foreign income, HMRC is also advising on how to prevent double taxation and the process for claiming tax relief. Myrtle Lloyd, HMRC's director general for customer services, urges taxpayers to utilize available resources and not leave their tax returns until the last minute. New filers are reminded to register ahead of time to receive their unique taxpayer reference number, which is necessary for submission.