A UK individual may be required to complete and submit a Tax Return of their income and gains to HM Revenue & Customs by 31 January following the end of the tax year on 5th April. Late submission of the return can result in penalties.

The tax relating to that return is also due on 31 January less payments on account already made (due 31 July and 31 January of the previous calendar year). If tax is paid late then penalties and interest may be due.

Every UK individual has personal tax allowances (i.e. a 0% tax rate) with the remainder of their income taxed at the basic rate and, if exceeding the basic rate band, then the higher rate of tax.