HMRC urges 3.5 million taxpayers to submit their tax return before deadline

With less than a week to go until the deadline, HMRC has urged the 3.5 million taxpayers yet to file their self assessment tax return to do so before 11:59pm on 31 January 2019.

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A total of 11,564,363 self assessment tax returns are due, of which 70% have already been filed, as of 22 January 2019. 7,359,607 of these were filed online: only 703,943 returns were filed on paper.

According to HMRC, more than 93% of taxpayers filed their tax return on time last year. It has reminded taxpayers that penalties will be issued for late filing: those who are late in submitting their return face a penalty of £100, even if there is no tax to pay, or if the tax has been paid on time. Additional penalties will be issued for continued late payments and late filing.

Commenting on the matter, Mel Stride, Financial Secretary to the Treasury, said: ‘The deadline for the self assessment tax return is fast approaching, but there is still time for the 3.5 million customers who haven’t completed their return to file by 31 January.

‘It is important that customers are reminded of the self assessment deadline in order to avoid paying penalties.’

As your accountants, we can assist you in preparing and filing your self assessment tax returns – please contact us for more information.

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Data reveals significant number of taxpayers filed tax returns over festive period

Data published by HMRC has revealed that more than 10,000 self assessment tax returns were filed over the festive period.

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According to HMRC, 2,616 individuals filed their return on Christmas Day, with the peak filing hour proving to be between 1pm and 2pm.

Meanwhile, 8,465 taxpayers submitted their tax return on Boxing Day, with the majority of returns being filed between 8am and 4pm.

More than 11 million taxpayers are required to complete and file their self assessment tax return by 31 January 2019. HMRC recently urged the 5.5 million taxpayers who have not yet submitted their tax return to do so before this time.

Angela MacDonald, Director General for Customer Services at HMRC, said: ‘The self assessment deadline on 31 January is fast approaching, but there is still time for customers to file their tax returns online and on time to avoid any unnecessary penalties.’

Those who are late in submitting their return face a penalty of £100, even if there is no tax to pay, or if the tax has been paid on time. Additional penalties are due for continued late payments and late filing.

As your accountants, we can assist you in preparing and filing your self assessment tax returns – please contact us for more information.

Self-assessment tax return deadline looms

Self-assessment tax return deadline looms

The deadline for submitting the 2016/17 self-assessment tax return is fast approaching.

Image result for Self-assessment tax return deadline loomsThe final date by which you must complete your self-assessment tax return is midnight on 31 January 2018. Those that miss this deadline will receive a penalty of £100, even if there is no tax to pay. Further penalties will be issued for continued payment failures.

Last year, a significant number of individuals chose to use the festive break as an opportunity to catch up on paperwork.

6,214 individuals submitted their self-assessment tax return online on Christmas Eve, while 1,944 submitted their return on Christmas Day.

A further 6,200 taxpayers filed their tax return on Boxing Day. This number proved to be significantly higher when compared to the same period the year before.

As your accountants, we can assist you in preparing and filing your self-assessment tax returns. We can also advise you on any payments due. Please contact us for help with your tax and accounting needs.

HMRC reveals worst late tax return excuses

HMRC has published its list of the ten worst excuses for missing the self assessment filing deadline.

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The excuses were all used in unsuccessful appeals against HMRC penalties for late 2014 tax returns, and the chosen top ten were:

  1. My tax papers were left in the shed and the rat ate them
  2. I’m not a paperwork-orientated person – I always relied on my sister to complete my returns but we have now fallen out
  3. My accountant has been ill
  4. My dog ate my tax return
  5. I will be abroad on deadline day with no internet access so will be unable to file
  6. My laptop broke, so did my washing machine
  7. My niece had moved in – she made the house so untidy I could not find my log in details to complete my return online
  8. My husband ran over my laptop
  9. I had an argument with my wife and went to Italy for 5 years
  10. I had a cold which took a long time to go

Ruth Owen, HMRC director general for personal tax, said: ‘Untidy family members and hungry pets are very unlikely to be accepted as a legitimate excuse for completing your tax return late.

‘We understand that life can be unpredictable and for those customers who have a genuine excuse for missing the 31 January deadline, such as the flooding, help is on hand. My advice would be to contact us through our helplines or online, as soon as possible.’

Self assessment deadline ‘extended for some’

31 Jan 2014

According to recent press reports, HM Revenue & Customs (HMRC) has extended the submission deadline for self assessment tax returns by two weeks.

The extension will only apply to those taxpayers who signed up for the online self assessment service between midnight on 21 January and midnight on 31 January, or individuals who have requested a replacement ID or password.

Those eligible for the extension will have until 15 February to submit their tax return, without incurring the £100 late filing penalty. However a spokesperson for HMRC pointed out yesterday that ‘the tax is still due by midnight tomorrow [31 January] so it doesn’t get you out of paying the tax.’

The Association of Chartered Certified Accountants (ACCA) called for the deadline to be extended earlier this week, as it is estimated that approximately 1.5 million people still have tax returns outstanding.

Changes to child benefit and an increase in self employment levels mean that more people are now required to fill out a self assessment tax return, including many who are doing it for the first time.

Chas Roy-Chowdhury, head of taxation at the ACCA, commented that he thought HMRC’s move was ‘pragmatic and realistic’.

Self assessment tax return deadline approaches

23 Oct 2013

Taxpayers who wish to file a paper 2012/13 self  assessment tax return are being urged not to miss the forthcoming 31 October  deadline, or they could face a series of penalties.

Under HM Revenue & Customs’ penalty regime,  any paper tax returns received on or after 1 November will incur an automatic  £100 penalty.

The penalty applies even where there is no tax to  pay, or where any tax due is paid on time, and   additional penalties will apply where the return remains outstanding  after 3, 6 and 12 months.

Individuals who are sending a paper tax return  within the final days of the deadline are advised to obtain proof of posting,  in order to support them in the event of any appeal against a late-filing  penalty.

As an alternative, individuals can instead choose  to file their tax returns online, by a later deadline of 31 January 2014.

We can help to reduce the administrative burden,  by filing your tax returns on your behalf.