HM Revenue & Customs (HMRC) is reminding taxpayers that there are now fewer than 75 days left to file their Self Assessment tax return and pay any tax owed for the 2024–25 tax year.
For most people, the online filing deadline remains 31 January 2026.
While over 3.5 million taxpayers have already filed, more than 11.5 million submitted a return last year — meaning many still need to get started. HMRC is encouraging individuals to file early to avoid the annual January rush.
Why Filing Early Helps
Completing your tax return ahead of time has several advantages:
- You’ll know exactly how much tax you owe, giving you more time to budget before the January deadline.
- If you’re due a refund, you’ll receive it sooner.
- You’ll avoid the stress and delays that often come with last-minute submissions.
Key Things to Watch for This Year
1. Capital Gains Tax (CGT)
CGT rates changed partway through the tax year, and this isn’t automatically updated in the Self Assessment calculation.
If you sold assets such as shares after 30 October 2024, you’ll need to ensure the correct rates are applied.
2. High-Income Child Benefit Charge (HICBC)
A new digital PAYE service now allows eligible taxpayers to have this charge collected via their tax code, meaning you may no longer need to file a tax return solely for HICBC.
HMRC can remove you from Self Assessment where appropriate — either for this tax year or next, depending on whether your return has already been filed.
3. Winter Fuel Payments and Heating Payments
Your Autumn 2025 Winter Fuel Payment (or the Pension Age Winter Heating Payment in Scotland) should not be included on your 2024–25 return.
These payments will instead be accounted for on your 2025–26 return.
Looking Ahead: Making Tax Digital
From 6 April 2026, sole traders and landlords with a turnover above £50,000 will be required to use Making Tax Digital (MTD) for Income Tax.
This involves submitting quarterly updates through compatible software.
If you fall within this threshold, we recommend preparing early to ensure a smooth transition.
Stay Alert to Scams
This time of year typically sees an increase in scam emails, calls, and text messages claiming to be from HMRC.
Remember: your HMRC login details should never be shared with anyone.
HMRC provides guidance on identifying and reporting scams on their official website.
Getting Started
With the deadline approaching, now is an ideal moment to begin gathering your records and completing your return. Filing early offers peace of mind, gives you time to resolve any questions, and helps you plan for any tax due.
If you would like support with preparing or filing your tax return — or need help understanding the upcoming MTD requirements — London Accountant is here to help. Feel free to get in touch and we’ll guide you every step of the way.
e: office@londonaccountants.co t: 0203 137 9791
Kind Regards,
The Team at London Accountants
