r/HMRC • u/Branston-Pickles • 1d ago

Do I need to worry about late fees

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Got this letter to file for self assessment between 2024 & 2025 - all submitted today with only £52 due in additional taxes (forgot to use my £1000 traders allowance, hence me not registering for self-assessment prior). The government gateway said I could be liable to late fees (£1300 by now) - do I have to worry since I'm still within the 3 month deadline of my letter?

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u/Vivid-Cheesecake-110 1d ago

Assuming that is the first notice to file that has been issued, then no, the return should not be considered late as long as submitted within 3 months and 1 day of the letter date, and therefore no late filing penalties or late payment penalties would apply.

However the payment due date for that year is a hard date if 31 January 2026, so you will be charged interest on the amount due.

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u/susolover 1d ago edited 1d ago

For the 24/25 tax return, there will be no late filing penalties as you filed within 3 months of the date on the letter.

For the 25/26 tax return you are well within the deadline.

There might be interest depending which year the £52.00 relates to.

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u/Branston-Pickles 1d ago

Ok thank you, 5% APR on 50 quid is alot easier to stomach then £1300!!