Tax February – Missing Deadlines, Payments and Making Changes

Immediate Steps After Missing the Tax Deadline

Late Filing Penalties:

If you’ve already missed the tax deadline of 31st January 2024, it’s important to be aware of the late filing penalties. The initial penalty for a tax return up to 3 months late is £100. This amount increases if the delay extends beyond 3 months. Interest of 5% will also be charged on any outstanding tax payments which are 30 or more days late.

Submitting a Late Return:

Even if you’ve missed the deadline, it’s crucial to gather all the necessary documents and complete your tax return as soon as possible. The longer you delay, the more penalties and interest can accrue. Submitting your return promptly can help minimise the financial consequences.

Communicating with HM Revenue & Customs (HMRC)

Contacting HMRC:

For individuals who have missed the tax deadline, swift communication with HMRC is crucial. Whether through phone or online services, informing HMRC about the delay and explaining the reasons behind it is essential. Proactive communication may influence how HMRC assesses your case.

Setting up a Payment Plan:

If you find yourself owing taxes, contact HMRC to discuss setting up a payment plan. This allows you to spread payments over a defined period. Providing all necessary details is crucial for HMRC to work with you on finding a manageable solution.

Updating Your Tax Return and Seeking Professional Help

Updating Your Tax Return:

If changes are needed in your tax return, they can be corrected within 12 months of the self-assessment deadline. For online submissions, there is a 3-day waiting period after the initial filing before you can make updates. For paper returns, contact HMRC for the essential forms and follow the provided instructions.

Seeking Professional Help:

Consider consulting our tax professionals, especially if your financial situation is complex. We can provide personalised advice on corrections, help you navigate the process of updating your tax return, and ensure adherence to tax regulations.

Writing to HMRC

If you’ve missed the deadline or need to amend a return from an earlier tax year, you must write to HMRC or use their online website. Make sure you have details such as the tax year, reasons for changes, and the amount over or underpaid. If making a claim, include relevant proof and a signed declaration.

Changes to Your Bill

If you update your tax return online, you’ll see your amended bill immediately. Within 3 days, your statement will show the difference from the old bill and any accrued interest.

Refunds and Additional Payments

If You’re Owed Tax:

To claim a refund, navigate to ‘Request a repayment’ within your HMRC online account. Allow 4 weeks for the refund to reach your bank account. However, if you have tax due in the next 35 days, the money will be deducted from the amount owed. Once again, if you need any help, we are here to assist you with our professional tax support.

If You Need to Pay More Tax:

Your updated bill will display the deadline for payment and any effect on payments on account. HMRC will usually send an updated bill within 4 weeks for paper returns.


For individuals who have already missed the Tax Deadline, taking immediate corrective action, communicating with HMRC, learning from the experience, and implementing proactive measures are crucial steps. Understanding the process of updating your tax return and seeking professional help can navigate the aftermath successfully and minimise the impact on your financial situation. Kench & Co are here to take the stress and pressures off, helping you avoid having to deal with these situations for your future Tax Returns.


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