Cash point

Three million people risk a £100 fine if they don’t get their skates on and file their self-assessment tax returns by the January 31 deadline.

HM Revenue & Customs says a third of tax returns are still outstanding and is warning those who don’t get their forms in on time that they’ll get slapped with an immediate penalty, even if they don’t owe any tax.

This fixed penalty is just the beginning of a whole raft of charges and fees for late filing.

After three months, an additional £10 daily penalty kicks in, up to £900.

After six months, a further 5% of the tax due or £300, whichever is the greater, is added to bills.

On top of those penalties, you’ll also get stung with fees on any unpaid tax after 30 days, six months and 12 months.

People submitting a tax return for the first time need to register for SA Online at gov.uk/selfassessment. It can take a few days for registration to arrive in the post, so it’s vital you get started now.

Angela MacDonald, HMRC director general of customer services, said: “Put a stop to that niggling feeling and do your Self Assessment now.”