Self assessment deadline looms

HM Revenue & Customs is warning self assessed tax payers that they must move quickly if they want to avoid a £100 penalty charge.

Tax payers now have until 31 January to file their returns online, the deadline for paper returns having passed on 31 October.

A record number of taxpayers, around 5.8 million, are expected to file online.

The deadline falls on a Sunday but there is no indication that HMRC will show leniency for returns that arrive late on 1 February.

The anticipated record numbers of online filers have also prompted some tax experts to warn that HMRC’s systems might crash due to increased traffic so taxpayers should be preparing and filing well ahead of the deadline.

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Taxpayers urged to submit early