Some 3.4 million people who have yet to file their tax return have a week to do so or face a £100 fine.

With the January 31 deadline looming, HM Revenue & Customs (HMRC) is reminding people time is running out to submit their returns, About 8.6 million individuals have already submitted their 2023-24 tax returns.

Myrtle Lloyd, HMRC’s director general for customer services, warned: "Time is running out for the millions still to file their self-assessment tax return by January 31. Help and support is available for those who have not yet started their return. Visit gov.uk and search ‘self assessment’ to find out more."

HMRC is reminding taxpayers to include bank details in their returns for swift and secure repayments. While excuses for missing the deadline will be judged case by case, a reasonable one might save you from a penalty.

Meanwhile, as scammers are known to take advantage of this period, HMRC cautions against sharing login details and to stay vigilant. A recent report by the Public Accounts Committee (PAC) has raised concerns about HMRC's service quality decline, suggesting it's eroding public trust in the tax system.

However, HMRC's top boss Sir Jim Harra hit back, earlier this week stating: "The committee’s claims about our customer service are completely baseless. In reality, we’ve made huge improvements to our service standards, with call wait times down by 17 minutes since April last year."

He also highlighted that HMRC has been given additional funding to enhance its phone service performance. Meanwhile, PAC chairman Sir Geoffrey Clifton-Brown has called on the revenue body to "take seriously" the committee’s recommendations.