With less than a month to go to the Self Assessment deadline, HM Revenue and Customs (HMRC) is urging nearly 5.7 million customers to file their tax return for the 2022 to 2023 tax year.
HMRC data shows almost 6.5 million customers have already beaten the Self Assessment clock by filing their tax return including 49,317 customers who used the New Year holiday to get a head start on their tax obligations:
- 25,593 customers filed their tax return on New Years Eve, with the most popular time being between 12:00 and 12:59, when 2,677 customers filed
- 127 customers saw in the New Year by filing their tax return between 00:00 and 00:59 on 1 January
- 23,724 customers filed on New Year’s Day, with the most filing between 15:00 and 15:59, when 2,354 returns where filed.
- 4,757 customers filed on Christmas Day
- 8,876 customers filed on Christmas Eve
- 12,136 customers filed on Boxing Day, with the most filing between 12:00 and 12:59, when 1,121 returns where filed.
The deadline to file a tax return for the 2022 to 2023 tax year and pay any tax owed is 31 January 2024.
How to file
You can submit your tax returns and pay any tax owed online at GOV.UK.
Or you can get in touch with us and we can help you through the process from £180
How to Pay
You can pay any tax owed online via www.gov.uk
If you cannot pay in full by the deadline, you may be able to set up a Time to Pay arrangement online if the amount owed is less than £30,000. There is a new affordability assessment for customers to enter their income and spending to calculate disposable income and set up an affordable payment plan.
What if I can’t file on time?
HMRC will consider a customer’s reasons for not being able to meet the deadline. Those who provide HMRC with a reasonable excuse may avoid a penalty.
The penalties for late tax returns are:
- an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
- after 3 months, additional daily penalties of £10 per day, up to a maximum of £900
- after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
- after 12 months, another 5% or £300 charge, whichever is greater
There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months. Interest will also be charged on any tax paid late.
Customers need to be aware of the risk of falling victim to scams and should never share their HMRC login details with anyone, including a tax agent, if they have one. HMRC scams advice is available on GOV.UK.