HMRC has issued a 'potential penalty' update for 737,891 self-assessment filers who submitted their tax returns in April 2026. The tax authority announced that a record number of people filed early, with 86,270 completing their 2025 to 2026 tax return on Easter Monday, 6 April.
Early Filing Trends
According to HMRC, 298,905 people filed their Self Assessment tax return in the first week of the tax year, and a total of 737,891 filed in April 2026. This marks a record for early filings. Myrtle Lloyd, HM Revenue and Customs’ Chief Customer Officer, said: 'For thousands of people, filing early and staying on top of their finances has become the norm. It takes the pressure off in January and means they can spend their time focusing on their business and doing things they love.'
Benefits of Filing Early
People who file their tax return early and are owed a tax refund can receive it sooner. In cases where tax has been overpaid, refunds can be claimed as soon as the return has been processed, HMRC says. Additionally, early filing allows individuals to take their time to complete their return, ensuring all information submitted is accurate. This results in fewer mistakes and potential penalties.
Who Needs to File a Tax Return?
Under HMRC rules, you must send a tax return if, in the last tax year (6 April to 5 April), you were self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on). Other reasons include being a partner in a business partnership, having to pay Capital Gains Tax when you sold or disposed of something that increased in value, or having to pay the High Income Child Benefit Charge and not paying it through PAYE.
Additionally, you may need to send a tax return if you are an off-payroll worker repaying a student or postgraduate loan, or if you have any untaxed income, such as money from renting out a property, tips and commission, income from savings, investments and dividends, or foreign income.
Deadline and Refund Information
More than 12 million taxpayers are expected to submit a 2025 to 2026 tax return by 31 January 2027. People can check if they are due a refund in the HMRC app. Filing early not only helps avoid the January rush but also reduces the risk of errors and associated penalties.
