Self-employed people on lower incomes are significantly more likely to miss the self-assessment deadline than higher earners, information from HM Revenue and Customs (HMRC) indicates. In 2023-24, around 5.9% of below basic rate tax self-employed filers submitted their return after the January 31 deadline, compared with 3.1% of basic rate taxpayers, 2.7% of higher rate taxpayers and 2.6% of those paying additional rate tax, according to calculations from PensionBee. The retirement savings provider obtained figures from HMRC following a freedom of information (FOI) request. In total, around 180,000 self-employed filers were late in 2023-24, of which around 94% were below basic or basic rate taxpayers. In general, people who miss the self-assessment deadline face an initial £100 penalty, plus further potential charges. HMRC may waive penalties if late filers have a reasonable excuse.…