HMRC Encourages Early Filing for 2024/25 Tax Returns
HM Revenue and Customs (HMRC) is urging taxpayers to file their 2024/25 Self Assessment tax returns early, reminding individuals that starting the process ahead of time provides flexibility and financial clarity.
Filing early allows people to review, edit, and resubmit their return multiple times before the final submission deadline, giving them more time to plan for payments and avoid last-minute penalties.
The department emphasised that early filers will know how much they owe sooner and can spread the cost or prepare financially before the payment deadline on 31 January 2026.
Who Needs to Complete a Tax Return?
HMRC advises anyone uncertain about whether they need to file a return to use its online Self Assessment checker tool.
The tool helps individuals confirm their filing obligations and allows those no longer required to file to de-register easily.
Typical filers include the self-employed, company directors, landlords, investors with capital gains, and individuals earning additional untaxed income such as rent, tips, or dividends.
Updates Affecting 2024/25 Returns
Taxpayers who sold shares or other assets after 30 October 2024 need to account for the new Capital Gains Tax rates.
HMRC has warned that the system will not automatically apply the correct rate, meaning users may need to manually adjust the calculation using the CGT adjustment calculator available online.
Winter Fuel Payment Clarification
HMRC confirmed that taxpayers should not include their 2025 Winter Fuel Payment in this year’s tax return. Payments made in Autumn 2025 will instead be accounted for in the 2025/26 tax return, due by 31 January 2027.
This clarification aims to prevent confusion and ensure that returns accurately reflect the correct financial year.
Warning Over Scams and Fraud
HMRC also reiterated warnings about tax scams and phishing attempts that typically rise during the filing season.
Taxpayers should never share their HMRC login credentials with anyone, including accountants or agents, and must remain vigilant about fraudulent calls, texts, and emails.
For guidance on recognising genuine HMRC communications, individuals can visit the official HMRC scams advice page on Gov.uk.
Preparing Early Avoids Penalties and Reduces Stress
Filing early helps taxpayers avoid the £100 automatic fine for late returns and gives time to correct any errors.
HMRC continues to promote digital filing as the easiest and fastest way to complete a Self Assessment.
Those yet to register for the 2024/25 tax year can do so online via the HMRC Self Assessment portal, ensuring they stay compliant and avoid unnecessary stress closer to the January deadline.
