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flag Over one million UK taxpayers face up to £1 billion in penalties for missing the Jan. 31 tax deadline, with fines escalating by April 30.

flag Over one million UK taxpayers who missed the January 31 deadline for filing their 2024-25 tax returns face escalating penalties, with up to £1 billion in combined fines if they don’t pay by April 30, HMRC and financial advisors warn. flag A £100 fixed penalty applies for late filing, increasing daily up to £900 if more than three months late, with additional charges at six and 12 months. flag Late payment penalties of 5% every six months and daily interest at 7.75% also apply, stacking if both filing and payment are delayed. flag HMRC confirmed 27,456 returns were submitted in the final hour, highlighting widespread non-compliance. flag Experts urge prompt action, noting that even payment plans can prevent penalties and that missing deadlines may block access to tax relief for UK citizens abroad.

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