3.4 million HMRC customers risk £100 fine after January 31 deadline

manchestereveningnews.co.uk:

HM Revenue and Customs (HMRC) customers have been put on high alert and warned against incurring a steep £100 penalty. Time is quickly running out for millions of people to file their tax returns before the deadline on January 31.

According to the latest data, some 3.4 million individuals have still not filed in the necessary information. The deadline affects anyone self-employed or part of a business partnership with last year's pre-tax earnings exceeding £1,000, specifically for the tax year spanning from April 6, 2023, to April 5, 2024.

There are also other scenarios where filing is necessary. These could include having an annual taxable income over £150,000, any need to pay Capital Gains Tax, or accountability for the High Income Child Benefit Charge.

Additionally, if you have specific types of untaxed revenue, like funds from foreign shores or unpaid gains from savings, dividends, investments, tips and commissions, or property lettings, you'll be expected to complete a self-assessment.