HMRC plans points-based penalties for self assessment

The current standard £100 fine for late filing of self assessment tax returns is due to be changed to a points-based system from 2026.

Taxpayers who miss a filing deadline will initially be given a point, with a financial penalty being charged only once a set number of points is reached.

This approach recognises that taxpayers who occasionally miss deadlines should be encouraged to comply with filing obligations, rather than immediately being charged a penalty.