HMRC Tightens Tax Return Rules: Missed Deadlines Cost £100 Plus Daily Fines
HMRC has announced new penalties and requirements for tax returns. Failing to file by the deadline could cost £100 plus £10 daily fines. Meanwhile, online sellers and side hustlers must report their income, with some earnings tax-free.
HMRC will impose a £100 fine for missed tax return deadlines, with an additional £10 daily penalty for each day of delay. This applies to both mandatory and voluntary returns. For instance, the deadline for the 2024 tax year was July 31, 2025, and the final deadline for voluntary returns, such as for 2021, is December 31, 2025.
Online sellers and side hustlers must report their income. If a user sells 30 or more items, or earns over £1,700, in a year on platforms like Vinted or eBay, their data will be passed to HMRC. Income from side hustles may be taxable, with the first £1,000 a year tax-free via the trading allowance.
HMRC's new penalties and requirements aim to ensure all income is reported and taxed fairly. Online sellers and side hustlers should be aware of their obligations. The deadline for the 2024/25 tax year is January 31, 2026, online, or October 31, 2025, if filing via post. Failure to comply could result in surprise bills and additional fees.
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