There are likely to be many readers who have not completed a Self Assessment return for several years and are maybe unsure as to whether they need to file a return for the 2022/23 tax year.  There are financial penalties for failing to make a return to HMRC when one is required.  Failing to deliver a return to HMRC by the deadline of 31 January 2024 will result in the following fixed penalties:

  • Initial penalty of £100
  • Where the failure continues beyond a 3-month period, a daily penalty of £10 to a maximum of £900
  • Where the failure continues beyond 6 months, the penalty becomes the greater of 5% of any tax due had the return been filed and £300.

There are additional penalties after 12 months delay but for the purposes of this article let us now consider whether you need to submit a return and ensure therefore you do not become liable to penalties for failure to submit a return.

The main thing to consider is whether there has been a change in your circumstances compared to previous years when returns have not been required.  Possible scenarios include:

  • Recently becoming self-employed with more than £1000 income
  • Receiving several sources of income
  • Receiving untaxed income e.g., part-time online sales
  • More than £100,000 income- (this is rising to £150,000 for the 2023/24 tax year)
  • Income from a property including Airbnb
  • Becoming part of a business partnership
  • Claiming Child Benefit with themselves or their partner with income above £50,000
  • Over £10,000 bank and building society interest.
  • Over £10,000 from dividends
  • Disposed of asset(s) e.g. property or shares, which may give rise to Capital Gains Tax
  • Self-employed income below £1000 wishing to pay Class 2 NIC to protect State Pension and other benefits.

HMRC does provide an online checking tool for those who are uncertain:

Check if you need to send a Self Assessment tax return – GOV.UK (

For those who have already been filing Self-assessment returns the online checker can assist in identifying if a return is no longer required.

To file a return, you need to be registered for Self Assessment and if you are not registered you can register online:

Check how to register for Self Assessment – GOV.UK (

If you do not file a return and one is required, then not only is there the issue of penalties but also the certainty of HMRC’s unwelcome attention going forward. Filing a return on time is an immeasurably better place to be than not filing and being subject to an HMRC Compliance check at a future point.  

If readers need to any help or advice in deciding whether they need to file a return for 2022/23 tax year by 31 January 2024 please contact us at 01902 711370 or email if you have any questions or require our expert assistance.