HMRC issues urgent warning with less than 100 days until deadline | Personal Finance | Finance

In a critical update for the self-employed, HMRC has sent out a 100-day warning shot this week. Highlighting the January 31, 2025, deadline, it reminded people that they must file and pay their Self Assessment tax return by this date.

More than 3.5 million have already lodged their returns, sidestepping the 11th-hour frenzy and minimising errors. In stark contrast, however, an overwhelming 12 million still need to tackle their 2023/24 tax year obligations.

Those at a crossroads about filing should promptly visit gov.uk for clarity. Myrtle Lloyd, Director General for Customer Services at HMRC, issued a statement urging proactive behaviour: “The countdown to the Self Assessment deadline has begun but there is still time to thoroughly prepare and file an accurate tax return by 31 January. You can access online help and support to help you file. Search ‘help with Self Assessment’ on GOV.UK to find out more.”

Newbies to Self Assessment must acquire their Unique Taxpayer Reference to file for the 2023/24 tax year, while those escaping this chore need to inform HMRC sans delay to evade penalties.

The guidance on GOV. UK will lay bare whether their operations count as trade and necessitate a Self Assessment tax return completion.

HMRC has issued a stern warning about criminals using emails, phone calls, and texts to steal information and money from taxpayers. They advise that before sharing personal or financial details, individuals should search ‘HMRC tax scams’ on GOV. UK to access a checklist that can help identify potential scams. The public is also urged never to share their HMRC login information with anyone, as it could be exploited to steal from them or claim benefits or refunds in their name.