Thursday, August 6, 2020

Thousands submit tax returns at Christmas but hundreds of thousands set to miss New Year deadline

HMRC has confirmed that over 3,000 people submitted their self-assessment tax return on Christmas Day and more than three times as many did so on Boxing Day.

The number of tax returns filed during the festive period were:

25 December (total 3,003)

  • 00.00 to 08.00: 248
  • 08.01 to 16.00: 1,458
  • 16.01 to 00.00: 1,297

26 December (total 9,254)

  • 00.00 to 08.00: 380
  • 08.01 to 16.00: 5,115
  • 16.01 to 00.00: 3,759

Phil Hall, AAT Head of Public Affairs & Public Policy, said: “The news that over 12,000 people submitted their self-assessment tax returns on Christmas Day and Boxing Day positively draws attention to the importance of submitting a tax return and makes for a good headline. However, it equates to a little over 0.10% of the 11,000,000 people who are required to submit a return by the 31 January 2020.”

For the 2018-19 tax year, more than 700,000 people failed to submit their tax return before the January 2019 deadline and this is the figure AAT believes HMRC should be focussing on.

Phil Hall added: “Reducing the number of people who miss the January 2020 deadline should be a key area of focus for HMRC – and the accountancy profession – to help the self-employed and others who are required to submit a return avoid an automatic £100 fine by ensuring they pay the right amount of tax at the right time.”

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